1st step is basically https://www.drupal.org/node/2490136, which is has been implemented in D8.2:

Enable revisions by default when creating a new content type, and also for the article and page content types added by the standard install profile.

It is something that bothers me quite a bit when doing the initial setup of every site since I have to go through the tedious procedure of enabling revisions for existing content types. Then I need to remember to enable it for new custom ones too. It resembles the procedure I was repeating in order to get admin_menu installed and to disable the Overlay and Toolbar modules.

I think that the limitations of the past such as disk space is not a concern any longer, even on the cheapest hosting plans. Performance might be one, but I have not seen any actual benchmarks - only theories that say that keeping many revisions of nodes would slow the site down.

There was a session in DrupalCon Barcelona on September 2015 about it. Here's the screencast: https://www.youtube.com/watch?v=LKQczUM7Qrw

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