Editing points on plyline

Not sure if its already possible, but if not, I would like to be to insert and delete points on an existing polyline

You can do that:

var
H: TStretchHandle;
begin
H := DiagramPolyLine1.Handles.Add;
H.OrX := 10;
H.OrY := 15;
H.Index := 5;
end;

This feature will not be implemented.