Nobody is talking about removing it. Its behavior was changed in the Playlist node and that seems to have caused this bug.

I might add that I personally like having the edit button on the standard toolbar, but I guess if you have to remove then so be it.

Seems to be introduced with this fix, I've added a note: http://www.ventismedia.com/mantis/view.php?id=7405

Yes same here.

I'm not sure if I am just doing something wrong here, but the edit button on the standard toolbar is grayed out in 1351 when it shouldn't be. When I click on the file tree it clickable (although nothing happens when you click), but if I click on a song it remains grayed out and unclickable.