iPhoto edit button? No, it's been there for more than a year at least. I remember discovering it last Christmas to show a friend how to improve her pix.

How old is the iPhoto you're using, guest number 6? I've never bought iWork so my version of iPhoto is still the free one that came with OS X.4. That's been around more than a year now, so the Edit button has been around more than a year at least.

Under the Edit button is one labelled Adjust. That's where the higher level controls are.