There exists a grace period for 5 minutes after the first submit that rolls all edits in that time into the original post so they don't count so you can make those quick minor edits. Otherwise start taking advantage of the instant preview it works great and it seems pretty crazy that you prefer more clicks to format your answer. Also please note that posting a partially complete answer and rapidly editing more and more info is somewhat discouraged behavior as it creates the fastest gun in the west problem. As for a Question it's in your best interest to post as good of a question as possible the first time, because once its posted people will start voting on it and you could wind up have a bunch of down-votes or close votes that could have been avoided.
The reason the threshold exists is to prevent people from continually editing their answers/questions which bumps them to the top of the page for more rep from upvotes, 10 was decided as a fair number to allow people to benefit from providing meaningful updates and prevent bad people from benefiting too much. Moderators also have the ability to remove CW status, but this is rarely done and generally requires an exceptional answer that a user has obviously put forth a lot of effort to maintain.
