Writing nodes is actually a longwinded process for me, most of the time, so I may sometimes significantly modify a node within a short timeframe after submitting it - that's even though I often preview more than once. I don't point out these updates, however they never change the actual point of the node; I usually shuffle parts of the node for clarity or expand on some points.

I make an effort to pay attention to votes and try to avoid substantial modifications once someone has voted on my node. When I do make any I point them out. Simple typos that noone commented on get fixed without notice though, which I think is pretty much standard and the main purpose of being able to edit one's nodes.

I'd definitely vote in favour having a full revision history of nodes available. I know the concerns very well, but I believe editing is a vital convenience. A revision history would allow us to have our cake and eat it.

Makeshifts last the longest.