Second: it makes statements like "Stop that or I'm going to report you" valid. This should not be so.
Third: beginner users seem to have the same abilities as "advanced" users. I use the latter term loosely.
I propose a simple non-invasive approach: keep the report button, however when a post is removed *please* keep something there. Even if it's a "post deleted" something, otherwise everything is just a mishmash of confusion...