Regarding the thing about edit conflicts involving <2k rep users, which hasn't been addressed yet, this is what happens.
If Alice, a <2k user, suggests an edit on a post that has not yet been approved/rejected, then all other <2k rep users will not be able to suggest another edit. I can assume that this is in place to prevent edit conflicts.
On top of that, if Alice's suggested edit has not yet been approved/rejected, then all >2k rep users will be prompted to review the edit before editing further.
One exception is if Alice starts to edit a post, and before Alice submits her suggested edit, a >2k rep user (Bob) starts editing it as well. In that case, when Bob submits his edit, it will always override Alice's edit, and Alice's edit will be marked as rejected. Source: Can we get a better conflict resolution to edits vs suggested edits
I am not sure what happens if two <2k rep users edit a post simultaneously. Anybody willing to try?
Us mods don't care much for edits, unless there is a rollback war going on. Thankfully, those are few and far between. So, no need to worry about inconveniencing anybody. For the most part, suggested edits are handled very well by the community.