Would it be possible to make a "quick edit" area similar to the quick reply area? Like have a button next to the edit post button that opens and little box at the bottom of the page that let's you edit a post.

Maybe make the quick reply box turn into a quick edit box at the click of the button...

 

It is a good idea that I am adding to my to-do list, but it's behind a bunch of other stuff that needs to be finished first. It might be awhile! Thanks for the suggestion!