Same here, except I typically use $(!!) to re-run the previous command. I find it faster than command-line editing.

    $ find . -name "*blarg*.cpp"
    $ grep -i "blooey" $(!!)
    $ vim $(!! -l)

Granted, you can only append new arguments and using the other ! commands will often be less practical than editing. Still, it's amazing how frequently this is sufficient.

I've always thought it'd be nice if there was a `set` option or something similar that would make bash record command lines and cache output automatically in implicit variables, so that it doesn't re-run the commands. The semantics are definitely different and you wouldn't want this enabled at all times, but for certain kinds of sessions it would be very handy.

EDIT: lazyjones beat me to it.