I had a look through and couldn't see an obvious reason why you can't use ido with org-insert-link, so here's a patch to enable it.

I haven't looked at using ido for editing links yet, but I figure org-capture would be a good pattern to do this.  The other thought here is to add an 'org:' link type so you can fire up ido just like org-capture (not sure what non-ido org-capture looks like).

This is my first patch, so please let me know if I'm not doing things right.

Tony