I've just been looking at this question, which has been promoted to Community Wiki. The original post was somewhat badly formatted, and attracted 7 edits within the first 5 minutes of it being posted (which I believe is what made it into a community wiki). On the face of it, this seems to act against the purpose of making posts into Community Wiki's since the question isn't one that is likely to attract long term editing interest.
Should there be a grace period where the editors can go crazy fixing a post, before the edits start counting towards the post becomming a community wiki? Even if the grace period was only the normal 5 minute editing grace given to the question asker, in this instance it would have made a difference.
EDIT: Note, you can't look at the linked question anymore (at least I can't), because it's been deleted, but I think the question still stands.