command line vi style editing - is that possible?

[ggolub]

Hi folks.
I am new to bash. I was using korn for long time. One of the feature I
really miss is command line vi editing.
Here is an example:
osql -E -S.<<!
select name from sysdatabases
go
!
This code will connect to sql database and return name of existing db's. 
If i want to re-run and edit this execution in korn, i would press: Esc,
--... untill i see this line of execution. At that time if i press 'v',
whole multi line will open in vi editor, where i can edit it and after 'zz',
it will execute it.
What I can achieve with bash is next: when I run 'set -o vi', i can scroll
history file. But it only shows me first line. I can't get it into vi too.
Do you know how I can get similar and convenient command line handling in
bash as I had one with korn/

Gene.
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