-Yeah, that is right. You can't so much alter anything to anything in place; you have to use a process of composition involving the numerics, <n> panel. Using one and two dimensions in comparison to other things, perspective at a time.
-Though, is this business of altering one edge into any form, and back to any form, on the cards for the future of Blender? It would be the major thing differentiating it from a commercial product, and if included, even as an addon, would drastically make things faster. Like:
{-Path to bezier edit handles, with co-connected final end points in place.
-A series of path points into a single or series of corelative bezier points, with co-connected final end points in place.
-The ability to do this on either a plane/nurbs surface edge in face construction, and to use the bsurfaces stuff or similar to correlate a combination of smooth nurbs surfaces on a face to directly create ripples.}
-Though, is there anything to easily create ripples on planes?
Moving along, though..
-If I have a composite path, with a series of dots throughout that I can <shift> select, When it comes to a number dots in a row anywhere, how do I select two endpoints, and also select all the dots along in between?