It seems odd to me that I have sufficient reputation to directly edit another user's post, but if a low reputation user suggests an edit, it takes several approvals before it goes live. What is the reasoning behind this behavior?
I'm transferring my "accepted comment" from clark into an answer:
I think it is more likely if you edit yourself, to be more responsible because your name is on the line. If you approve an edit since the original editor is only shown afterwards, some approvers could be more hasty.