Yes, you can place a link. But the link, unlike the page range, points only to the place, not to the scope.
Why can't you link to divs on a page? When I'm given a page range, I don't typically first go to some arbitrary page in the middle of a range.
But the rules of citation prescribe that you give a section or page number. Giving a URL is a neat technical solution, but it's not a proper citation.
You can cite a URL.
You can if you must but you know what I mean. Typically you cite a peer reviewed work and reference it in the bibliography with author, year, publisher, etc.
reference it in the bibliography with author, year, publisher
Which is more than a little quaint, in 2012.
Not really. These are useful bits of bibliographic information, which can give you an idea of a source without having to consult it. And the kind of publisher gives an indication of reliability ranging from peer reviewed to self-published. Including an URL as well, when applicable, is of course very useful (given that it's a stable one).