Well, may be this (reused code) is more closer to what you will be talking about:
Here is an initial version of +1 product from OrbitOnTarget Line of Products (hehe )
Later I will write a better "manual", but in the mean time ...
Select Component(s).
Select the Tool (Component OrbitOnTarget)
Select a Reference point (with double-click and no feedback for now) - this is used to Move the selected Compo(s) in a radial direction, closer of more distance relative the Target.
Select the Target point (with double-click and no feedback for now) - this is used to Rotate the selected Compo(s) relative the Target.
LButton-down + drag to move the selected Compo(s).
LButton-down + Shift + drag (up/down) to move the selected Compo(s) more closer or distant the Target (up= +closer, down= +distant).
Both OOT: Camera and Component OrbitOnTarget. Give a try and let's see how to improve them.
OOT.zip
The ComponentOOT can be much more improved toward the concept of Connectors. For now this is a initial concept for the Point-to-Point connector (Reference-to-Target).
It's also necessary a roll-back mechanism to undo, etc, etc but looks promissing.
Regard,
Marcio