The Editor is incredible. I've been able to fix things with it that were otherwise impossible. For example; I had a live recording of a 3-piece group (guitar, bass, and drums) where on this particular song there was a 4-beat intro count and the drums and bass came in just ahead of the 1 beat (anticipated) but the guitar player (me) forgot and came in on the down beat. It sounded pretty sloppy. With Melodyne Editor I was able to actually drag that one guitar note IN THE MIX to line up with the bass and drums and you can't tell it wasn't recorded that way.
Another example; I play acoustic fingerstyle guitar and sometimes a string will vibrate against a fingernail causing a zinging sound and I have been able to remove those without leaving any audio gaps.
I bought my upgrade through Celemony for $149 on 5/29/14.