How to add in-place edit links?
There's an alpha version of Editable Fields for Drupal 7. The module:


  allows CCK fields to be edited on a node's display (e.g. at node/123), not just on the node edit pages (e.g. node/123/edit). It also works within views etc. Anywhere a 'formatter' can be selected, you can select editable (or click to edit).


It works for nodes, but not for blocks as far as I'm aware.

There's also the Aloha module:


  This module integrates the excellent HTML5 wysiwyg editor Aloha Editor (http://aloha-editor.org/) to Drupal. Both the module and the Aloha Editor library are under active development but still in the early stages.


But judging from the comments on the module page it might not be ready for use just yet. I did find an article with someone who claims to have got it working so that might be the place to start.