If I add a new timeline to my movie will it replace the original timeline?

I have just recently learned how to use the timeline to my advantage (See my banner below). Now I know how to time events properly and make things work when I want them to.

What would be even better is if it were possible to drag and drop the timeline objects.

For eg:

I have a SHOW event that I want to begin while another item's SHOW event is taking place. Now, I know how to use the DELAY number to make it happen at that time BUT it would be AWESOME if all I had to do would be to drag the timeline reference to the specific point.

Am I alone on this?