Realtime update

Happy New Year to all the Rhino users on the forum.

I have a challenge for this year being new to Python and just feeling my feet now I want to write a script to do the following, please tell me if it is possible before I waste my time trying something that cannot be done.
I have two points one static and one moveable I create a vector between them and add the magnitude as text.

I want to move the text, arrow and red point in the same orientation as the vector and for the text value to update in real time, this is to be a python script not in grasshopper. Had thought of Text Fields but not enough functionality unless i’m mistaken so all advice appreciated.

Yes, this should be feasible.

Check this out: