I never thought of reviewing as reading with a critical eye but it seems like a much better way to go when reviewing your paper. You do not want to just briefly review your paper, critiquing it yourself will help when the next person reads your paper and hopefully leaving them with less to critique. Revising is something I do the most, just going over your paper again and again making improvements. Also letting another person revise your paper is good especially if they don't know much about the topic you can ask them if they do after reading your paper. Editing is something else I will do over and over. I also like to go to the writing center for advice because they are a lot of help! The work I did in high school was much different than this. I guess you could say I did not review, revise, and edit my papers as much as I do now. My layout of papers is a little different to, they are more organized since I have had more experience. Last semester in my comp one class we had peer review.I received useful advice on grammar and another persons opinion was good to have also. This made editing my paper easier.
Here is a link on revising a paper! http://homeworktips.about.com/od/paperassignments/a/revising.htm