I understand what your saying but whoever wrote the script gave the option to allow indefinite editing and to get email notifications of postings. So in turn if your offering these options in the standard script your really missing a key feature of getting a notification when a post is edited, that's just my observation and a basic flaw in my opinion.

If one can't trust the users one can't allow them to edit their postings.

That's difficult to say when you have hundreds of users of which the vast majority are trusted people, your always going to get a very small minority of idiots posting but why should the majority of good people be punished for this.

Your script offers indefinite editing and timed editing, if it offered a trusted user list who could edit their post any time that would be a different story.

But as it stands the majority of my users who are trusted want to be able to edit their posts anytime.