In the Pink called it a selfless act to edit/rewrite less-than-adequate reviews. I couldn't agree more, and I see those sorts of acts as the basis of why we're here. (I don't want to sound over-important because I'm new, but...) People who use this site to buy toys want the best information they can get before purchasing. If I'm a customer reading reviews, I want them to be high-quality, and I don't care if they have been edited, as long as they are honest and helpful. As far as rank is concerned, if you did leave reviews in their original form, but then went on to become a highly ranked contributor, I think it would look strange to a customer who read reviews from this acclaimed contributor if the reviews were sub-par, even if there were a follow-up review (because sometimes they might not make it to the follow-up).

I just re-wrote one of my first reviews. As I look them over I just can't stand that writing like that has my name associated with it.

My only concern is that people will read the review, then the comments and think "WTF?" since they no longer match.

You could note the parts that have been modified to address comments as well - something like [in response to comment] would work.

If it helps, don't think of rewriting reviews as a selfless act of cooperation, think of it as competing with yourself!