It would be only a modification of this requested feature: As long as the cursor is not moved it will work as requested, similar to zsh and bash. Only in the case the cursor is moved inbetween, the next "M-." should insert at the current cursor position the last word from the last history line, and then again going up the history with further "M-.". I don't know how zsh behaves in this case, but bash works like this. -- Best regards, Jörg-Volker.
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