Another problem with the Edit box is that it automatically populates it with the value the control currently has, which is unhelpful because the only reason for using the control is that you want to change the value.
Say I have "123" in the control's value, and I want to change it to "456". I press the control, and it brings up the "Enter New Value" dialog with "123" already populated. To change this to "456" I have to press "backspace" 3 times, before entering the new number.
Even worse if it is a string with 20 characters, for example.
2B, or not 2B, that is the pencil ...