I don't like the decision for basing the ability to have more 'power' in editing with higher rep users -- just 'cause you have 10k rep doesn't mean you can pwn me (~2.5k rep) at editing. But that's another story.
Technically, someone could make something that would go through all the recent suggested edits. All they need to do is search the most recent suggested edits, and filter out the ones rejected or approved.
http://stackoverflow.com/suggested-edits/ INSERT HIGH NUMBER.
So what's the point of having the editing queue available to only 10k users? I have made over a thousand edits on SE, and I think I can tell the difference between an edit to approve and an edit to reject. (Notice I didn't say "good/bad edit".)
StackExchange is suppposed to be like Wikipedia, right? So give the good editors more privileges across sites, regardless of whether they have enough rep or not!
In fact: I propose an integrated edit queue on StackExchange. You can look at the edit queue for sites/tags you indicate.
- Editing privileges based on number of quality edits (Wikipedia style).
- Editing privileges are sustained across different SE sites.
- An edit queue on stackexchange.com.