I completely agree that I shouldn't be able to make other people's questions CW. But I do think that I should be able to make my own question CW. I can't see a moderator inflecting penalties on somebody for making their own question CW when it shouldn't have been. Although the mods may be quick, the can never be as quick as me doing it myself. I've had questions that got several votes and went over an hour before being made CW.
EDIT: Whoops, I thought 10k users had this privilege. Turns out its only the mods. Apparently we're supposed to flag posts ourselves to be made CW. This seems like the most unintuitive and wrongly buried 'feature' of Stackoverflow right now.