Yeah I changed the head and it is now my real head, :p
Well you do understand that if a full fledged and powerful editor was released, there would be many COMPLETE games with balance, storylines, quests etc, being built by the week by the community. As it is now there is, what 3 people working on the game? But with such an editor anyone could work on it! It would be finished much faster in my opinion with the focus more on the community games.
Besides even with it being Beta version any MODs made should be compatable with the newer version of the game unles sthe change something extremely drastic. The transition from 7.0-7.11 was mod surivivable. Not only would it be practice but alot of things, Models, Sounds, Textures, DIalogue, Quests, Items, Factions and mostly everything should be compatable with all following versions. Even if a few components had to be scrapped most of it woulod be able to survive. The Neverwinter Nights and Morrowind editors have both had numerous huge overhauls in teh game's engine since release and the older MODs still worked perfectly with the newer versions.
If the editor Im thinking of was released next month, there would be many working BETA total conversions out by the following month. As it is now with only 3 people working on the entire game in all of its aspects, This game wont be finished until 2007 at least. But with the Official guys only focusing on the maqin engine instead of game content things would get done alot faster without sacrificing quality.
The bulk of the Morrowind and NWN community are Modder/players, and without those powerful editors the game's community would have died out YEARS ago in both cases. No game lasts as long as those two without that sort of ease of modability. Even the Unreal Tournament games, they would not be a fraction as popular as they are if not for the modding tools availible to them.