I am really glad to see this post generate so much comment! It seems to be a good time to start looking into improving Post Revision and its implementation.

I like the feature itself, but am not fond of the fact that it's not even an option that can be controlled in the admin panel. Since it is now a core function, it would make sense that managing the different versions should be built within the core WP rather than relying on the excellent 3rd party plugins developed so far.

Some people have already suggested that the functionality of Post Revisions may be better provided by a plugin rather than within core. Hopefully some of the WordPress developers can re-consider the current position please?