At the risk of putting everyone else on the planet asleep, I have been an editor since Christmas day, 2002. I wanted to become an editor for two reasons, I love military aviation, and felt it was woefully underrepresented, and I just happened to have a military aviation website.
As an editor, you only have one target audience, the surfer. If the webmaster's goals and desires happen to coincide with that of the surfer, then life is grand, but when there is a divergence, we side with the surfer every time. Our public and private mantra is: we are not a listing service.
Editing is addictive. I expected to do about 250 edits a year -- I passed the 20,000 edit mark earlier this year, and by many standards I am still a rookie. There are editors whose numbers seriously put mine to shame.
It is great fun, a wonderful learning experience, and highly addictive. It can also be scary, as you get a close-up look at the dark underbelly of the Internet. All in all, it will make you a better webmaster because as you develop your own sites you will truly understand unique content and will be able to apply that concept to your own site.