This "edit mode" is defiently NOT useless!!! It does all the thing above AND if you press ctrl-E in combat situations or towns or any were you can be outside the character in third person you can create stuff and make your own little town or something...
I have experimented alot in this "mode" and found some commands how to do it...
For safetys sake do a backup of the whole game i have no idea how this may effect the game as i have no experiance in modding
ctrl-E Makes you start/stop editing.If you stop you will get a choice if you want to save or not.
Insert Create thing right infront of you.
delete Destroy the item curretly selected
ctrl-left/right arrow Changes category of the thing you create (got to create to see what you do).
alt-left/right arrow Changes the specific item in the category you have chosen (got to create to see).
page up/down Cycels trough the items already created.
enter Selects the targeted item
W,S,A,D Move camera around.
C,F Move camera up and down.
T (hold, move mouse) Move item up and down.
U (hold, move mouse) Rotate item left and right.
G (hold, move mouse) Move item around.
Y (hold, move mouse) Rotate item around the "Y-axis".
Z (hold, move mouse) Rotate item around the "Z-axis".
X (hold, move mouse) Rotate item around the "X-axis".
R Set item in a strait position
Sorry for the spelling, english is not my first language. And please dont ban me if i have done anything wrong.... Ohhh hello and a great game by the way.