Most often case is when you forget to type sudo before command. This implementation propose to re-type executable name in all-caps (or type it in all-caps beforehand).
More efficient approach is to use keybinding like Ctrl+T to prepend sudo to the current command (or to the previous command if current is empty).
As for ^T, I'd wholly forgotten about bind, inputrc and all that- but of course both your proposal and the above can be put into an inputrc macro and bound to a key. However the all caps version is shorter when you remember you need sudo in the first place ;).
Titles are automatically titlecased when submitted but not when edited. The workaround is to submit and immediately edit afterwards.
Unfortunately many blogs have their titles all uppercase instead of using small caps. For me the use case where I copy an all uppercase title and want it to be titlecased on HN is much more common than the case where I actually want a string of caps. I'm quite ok with the current behavior.