I know you can just give a group the option to either have permission to edit them or not, but how about a time-limited option for this, thinking along the lines of a few minutes or so. (Mainly so they can fix any typo's)
I know you could (for example) give permission to edit titles and set a general edit limit, but that's not the same. Some boards may want to allow unlimited editing time for posts but not allow members to edit the titles (apart from a few minutes after posting a new topic, hence the suggestion)
Just a quick thought anyway...