Even in the course of normal line editing, I've cultivated the habit of putting a # prefix at the beginning of the line. This allows me to look over a complex command to ensure that it's correct, or perhaps to save a "draft" of a command in my history while I go research some other point of information that I need to formulate and check the precise syntax of the draft command.
Presuming you're editing just a one-line command, from within vi, do:
1Gi#Esc
Then save the file, and your "draft" command will not be executed, but will be stored in your bash history. When you're ready, you can return to the command, remove the leading # and execute the command.
^x^eis bound toedit-and-execute-command. I think this is standard, but I've updated the question now.cq! If you add an answer I will mark it as accepted.