You've got a 4 button thingy, right? Up gets you the previous command, even in ash (busybox), at least in os2008 on the n800. The other arrow buttons let you move around, and you can type in the middle and edit. Hit return, and it flies.

I had bash installed on my 770, and as a Unix guru, didn't even try the buttons. Do they work in OS2006? When my 770 is fixed (if it gets fixed), i'll want to know.