Found this via http://cms-list.org/, my small brain can’t figure out how this would be useful, but nonetheless, try changing your <body> tag to look like this:
<body contenteditable=true>
and then view your page… type away, move images, *resize* images, delete text… wow. Kinda cool. As usual, it’s IE 5.5 (and higher) specific, although some people have written workarounds to get it to work in Mozilla.
MSDN documentation: http://msdn.microsoft.com/library/default.asp?url=/workshop/author/dhtml/reference/properties/contenteditable.asp
my brain is small too… it cant see the benefit of it under any scenario…