I was wondering if anyone knew of a way to edit entries in the same manner you are able to edit pages in the Universal Template. I'm experimenting with using MT as a database for some products and it would be useful if I could add a link that says "Edit this entry" to each one to make it easy to get to the editing screen from the web page.
I took a look at the javascript code in the header as well as in the entry body of the page in Universal template and I think I get the gist of what it's doing but I'm having a hard time implementing it.
I'd like to add this to the template so that it's permanently placed in each entry that is created.

Have you tried linking to:
http://www.yourdom.com/mt/mt.cgi?_mode=view&type=entry&id=ID&blog_id=I
That's the url that the CMS uses for editing entries. mt:Entries supplies everything you need for getting the entryid, blogid and other variable data for building up that link.