Hi,
I had to edit our theme here to restore the "Edit" and "Report" links to their previous (< 4.5) locations. The "Report" link must be very visible to our users, and as for the "Edit" link, it gives us extra work. When seeing a post that requires editing, our moderators must scroll back to the top of that post, click on the "..." and then click on "Edit". So, there are two extra steps required, i.e. wasted time.
Just my two cents.
Cheers.