My proposal is this:
Increase the amount of times the author can edit a post before making it CW. I suggest making this 8 or so.
Edits that are done by the same user(including author) within 5-10 minutes(to taste) within each other are not counted and will not rebump the question.
The first 15 minutes a question/answer is posted, none of the edits count.
1 will help with improving answers/questions as more research is done. 2 will fix the minor-edit problem for whenever you make an edit and then discover you misspelled something, and then after discover your formatting is a bit wrong. 3 will fix the problem for when someone posts a poorly formatted question on a popular topic and 6 people edit it at the same time.