If it's important enough to keep after 7 days, it's important enough to use in an external editor.
This is my stance on things. When creating my reporting thread that wasn't primarily kept on the forum drafts, and I only used it to preview it to find any formatting issues. Other than that it was created in a text editor, and saved periodically. I think the drafts feature is good enough as it is, and we don't really need anymore functionality to it.