alt Hacker NewsI have yet to see a shell that has mouse enabled line editing support. It should certainly be possible though.
I do prefer vi bindings at the same time though. Vi bindings and mouse support complement each other well, you don't have to choose one or the other, just use whichever feels most natural and convenient in that exact moment.
I think modern terminal emulators and readline-based shells support it.
This is not to say that there's nothing to improve. Multiline editing experience suffers, and non-readline shells aren't supported. Those problems were solved by Plan 9 (at the cost of dropping xterm compatibility), but the mainstream hasn't yet adopted those solutions.