My 2 cents, personally I always find complicated sets of user categories quite annoying.
A 7 day wait period is also annoying! But it's about giving people time to see your edits people who might not be on the computer every day. I don't often vote 'yes' on edits, but I do glance at my subscriptions and vote or leave comments if there's something dodgy or interesting. So '7799 were never voted on' seems damning, but doesn't really mean that much.
And your example is a destructive edit so I wouldn't really want to have that be an auto-edit. 99% of the time it's fine, but having to go back and change things back (misunderstandings/mistakes do happen, it doesn't have to be malicious intent) is always the biggest bummer for me.
I think there's some bigger ideas in the background that could offer better solutions - for instance I would be keen on going to 100% auto-edits if there's the ability to roll back edits to an earlier state afterwards. I think that might be the long term plan?
On a different note, I'd actually like to see completely new editors have less auto-edits...
This one sounds straightforward and very useful though!
ps I think you'll find opinions quite divided, people who just edit a lot are going to be for this, people who've been around a while, have a massive bulk of editing behind them, and who actually look at their subscriptions, will probably take issue. Both are valuable groups of people and if you can find suggestions that make both happy I think that would be a massive step forward. Not easy though.