I\'m trying to write a drag & select functionality using HTML & JavaScript. By that I mean that there will be a set of objects with arbitrary absolute positions. I w
Even though you desire to use jquery 1.5, I will still recommend checking out the jquery-ui Draggable option (from the way I am interpreting your desire this seems like what you are attempting to accomplish).
http://jqueryui.com/demos/draggable/
jquery-ui is always very fast to catch up with the newest release of jquery, and in a lot of cases will work fine. I have found that jquery-ui tends to stay up-to-date with jquery better than any of the other add-ons I have found.
With regards to wanting to know how this should be done, you can explore the uncompressed core of jquery rather easily. It is quite well documented and pretty straightforward to read.