Ideal features include (but are not limited to) the following:
- capability for unlimited number of history entries of any size (obviously within external limits) recorded in raw BB&HTML.
- accessible regardless of whether the "edited by" line is displayed (e.g. could be a simple link on the bar at the top of the post).
- records all edits, regardless of whether the "edited by" line is displayed.
- editor username, IP, and edit date/time are recorded for each entry.
- ability to restrict groups/users that are able to view the history.
- ability to restrict forums and groups/users that the history is used on.
- can be enabled/disabled (but simply disabling it will not clear entries).
- the capability to clear entries both individually and by bulk (ideally using manually-defined parameters) in order to conserve space.
- ability to revert post content to that of a previous entry, and have the reversion recorded as a new entry - not crucial since this can easily be done with Copy&Paste.
- a post comparison feature (see vBulletin or Wikipedia for examples) - again, this is not crucial since comparisons can easily be done externally e.g. via Notepad++.
It would be great to see this feature implemented ASAP, if not as a stock feature then at least as a mod.