yes, this is a good question. I still have to implement drag and drop in a react project, and it seems the way to go is do this all through state? Which means none of the existing drag and drop solutions will work (any DOM manipulation without react knowing about it will cause trouble), and since react is relatively new there is seems there is still a need for good reusable animation components/mixins, and in the mean time, it's all a bit more manual work.
On over/drop you update your state and the view updates as appropriate yeah. Presumably some css transitions could make it pretty, I just went with straight updates as in my case it was only for personal use.