WebProNews

If you are going to consider negatives, I wouldn't throw out negatives that have no basis in reality. You write, "But there’s the whole balance-of-power-and-bias issue to consider, and limiting edits could slow Wikipedia down (no more instant updates on current events) and discourage participation."

For those of us who edit the encyclopedia, we already know that 90% of the substance comes from established editors. IP addresses, and brand new User names rarely add much to the discourse and information.

You were way of base saying "no more instant updates" -- those of us on the site know that the breakneck pace of updates is, again, undertaken by established editors. They are the ones who, upon hearing or reading a news item, immediately think to contribute it to Wikipedia. Unregistered users and registered users are not the engine, by any stretch of the imagination, that runs Wikipedia.