Reverse Inline Editing

I want to throw this out there as I’m wondering if anyone is interested in a different approach to making HTML elements editable… I recently wrote some code that does the reverse of what my existing inlineEdit plugin does. i.e. it starts of as a form input element and turns into a placeholder on load. Once loaded up you can do all the same saving/canceling as the usual editable elements but the beauty now is that underneath it’s a plain old form element so degrades nicely if you also wish to cater for non-javascript users. So I wonder which approach is best? What are the pros and cons? Or should a plugin cater for both scenarios?