Yes, an edit counter was indeed worse. I, like trackstar, do a lot of edits. If you are using the Latex, it can take many edits to get it nice. If you try to be clear, it can take many edits. What is the need to highlight that??
Nice to have support from a fellow editor. I would note that sometimes edits are due to typos, better ways to phrase something, or just cutting back, if I had too much tea and was perhaps a bit hyper-caffeinated. Sometimes any number of us get on a roll here and can go on and on. But consider Gordon Gekko: Greed its Good. Garrulous is not.
And sometimes the edits are for addition of content or images without wanting to generate a long string of new posts.
In any case, the present scheme is tolerable and I appreciate the responsiveness of Admin and the powers that be on this issue.