I would agree if it wasn't for the issue that many edits are made after 90 seconds. Usually when the user comes back to read it again and sees all the typos and grammar issues.

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It's not a wide open solution, but in my experience people notice typos, which is the type of edit that should be facilitated, right after they post the note. And if users knew they had a 90sec buffer to make those minor changes, I think they'd be more likely to review their note after posting. I think such a solution would be a lot better than what we have even if it's not perfect.