Ehm, the answer I want to give isn't there: unlimited power to edit, unlimited power to delete single posts, no power to delete threads.
The problem in the other thread isn't that posts were deleted, but that threads were deleted........ So, this poll is completely besides the point for me.
This 1,000 times.
Any other forum I post on allows members to edit and delete their own posts whenever and however they like. If they are the thread author, it deletes their first post but leaves the thread intact.
The system in place here enables users to delete the content of others, regardless of that person's wishes, just because the first person happened to have the original post. After this happened to posts of mine a few times, I've pretty much decided against posting much at all. While I visit the site nearly every weekday, I really have to talk myself into making a post here, as opposed to APUG, which I post to a decent amount. Usually this has the effect of me only checking 1-2 sections, then browsing the classifieds, then leaving. I'm sure I miss out on some great discussions, but when the OP can wipe out my content for any reason, I don't even want to post.
I have no problem with a mod being able to delete a post of mine if he or she feels it;s out of line, but when I know I'm making good posts, and some random user has the power to delete them for any reason at any time, it makes me far more inclined to just move along.
If an OP dislikes the thread so badly they feel it should be deleted, let them petition a mod. Too often, a thread goes on a tangential, but informative, enlightening topic, only to have the OP delete everything because the discussion didn't go the way they wanted it to. The posters did nothing against the rules, yet have their posts deleted. That, to me, is ridiculous.