The interesting thing about looking at a story again, after you haven't looked at it in a couple of months, is how alien it is, how strange and full of unfamiliar people who you can't quite imagine making up.
The nice thing is being able to strike things without too many pangs of regret, to ruthlessly circle things for being too ambiguous, or not thought out, or just clumsily written. It's like getting let loose with a pair of scissors and a red pen and going to town with no compunction.
The slightly less exciting thing is too look at all your gleeful notes ("confusing!" "what?" "unnecessary" "quite silly") and then realize that now you have to actually fix the broken bits. And the question now, in sizes large and small, is "how?"