I have list of object that I want each item to be rendered with some renderer that include a delete and edit buttons with some text.
What is the best way to make the list of object re-order-able in drag/drop fashion so the user can drag on item on top of another to change the order of the list.
Basically, just use a List, or DataGrid, with an itemRenderer that displays the buttons. Look into the DragEnabled, DragMoveEnabled, and DropEnabled properties for the click and drag sorting.
Look into using itemEditors for the edit functionality.
At the risk of sounding self indulgent, our DataSorter component is designed for sorting lists. It is modeled after the Netflix movie queue / YouTube Playlist editor, but can be easily modified or extended as needed. Free developer editions are available from the web site and you can check out our API Explorer sample.