"Does this mean I can resurrect old content and post as new?"
You've always been able to do that on Steemit, although it is generally frowned upon... You can easily re-release an old article as if new.
However, you just can't edit articles beyond the initial edit cutoff period. That period was (initially) thirty days, and then was reduced to seven.
The promise (for which I am impatiently waiting) is that we will have the [Edit] button available on our own work permanently. So, when I discover a typo in this article two months - or two years - from now, I'll be able to fix it.
Thanks for the note about the new contest; I'll check it out. ;)