That's pretty much how I'm going to approach it too. I edit as I go along (because sometimes thing I write are really bad when they finally get to the computer) and I know stuff that's sitting in the computer right now needs some heavily editing. I don't plan on joining NaNoEdMo since it quite likely is going to take more than 50 hours to edit the beast. Besides, while I reached 50k, the story isn't done anyway so there's still more writing to put into it.