It's the editing that concerns me, and I was given to understand that at the present deleting and editing are inextricably linked. And at any rate, the worst damage that I've seen in the posting deleting category until this event has been done by the management anyway, and somehow I doubt they've given up that ability.
I can't even figure out who this person is who did this, or identify which threads are now hashed. At the same time I'm now seeing lots misspelled/garbled posts, not to mention extra posts of the sort we used to see only from people who hadn't figured out that they could edit their posts. So we've traded a fairly theoretical problem for a very real one.
I personally am willing to trade the risk of a few "imporperly" deleted posts to get back being able to make corrections, especially since I think the real rtisk is extremely low.