As a moderator, I end up code-formatting the posts of a lot of new (and not-so-new ) users. Generally these people have done an unformatted post of potentially hundreds of lines of server logging. I can usually tell that from the first screenfull. Unfortunately, I have to scroll past all that to get to the edit pencil.
It would definitely ease some UX friction for me if I could enter edit mode for the body from the top of the post too.