replace point with block or polyline
I don't know of one, but it should be very easy to make. Do I assume correctly that you want the Block inserted on the same Layer the Point is on, and with its insertion point at the Point location? Is there any other kind of object data about a Point that could be kept and applied to the Block? Or by "kept" do you mean something other than "applied to the Block insertion"?
Kent Cooper, AIA 
thats pretty much it. I'm trying to make sure the object data properties still remains after the point is replaced. For example, the point I selected is DK282 I pretty much want to keep everything under "OD;DOCK4".
That looks like something from a Civil or Map overlay program, not "vanilla" AutoCAD. Someone familiar with those would need to advise -- it's out of my league.
Kent Cooper, AIA