I came across Joseph Scott's "EditInPlace, New Version, New Home" and checked out the new site ... which left me totally in the dark, it's new and spartan to the point of being cryptic.
But have no fear! A set of back-links to earlier blog posts (18APR07 and 7JUNE07) and a well implemented tag system makes everything clear.
Also, Drew McLellan at 24Ways covers the topic nicely with his "Edit in Place With AJAX".
J. Scott's ''example'' page shows what it's all about ... shows how elegant the method is, too.
Now, let's make it accept HTML so we can really edit!