I just got the Edit-privilege on SO, and in the FAQ it says:
2000 - Edit other people’s posts, vote to approve or reject suggested edits
However, when I try to access the review-page for suggested edits (http://stackoverflow.com/review/suggested-edits/), I just get a message saying
The page you're trying to visit requires the privilege “approve tag wiki edits.”
You receive additional privileges on Stack Overflow by earning more reputation through participation on the site. When you have earned at least 5000 reputation, you will receive the “approve tag wiki edits” privilege and will be allowed to view this page.
So it seems I should not be able to review edits after all, although that is what the FAQ says. Is it a bug in the system or an error in the FAQ? Either way, I think it seems pointless being able to edit posts but not see suggested edits as well as being able to accept/decline/improve them.
I am tagging this as a bug, feel free to retag if you disagree.