If you happen to be in the same place, sure. I've met my agent face to face twice since I signed with her (in 2008), both times at conferences we were both attending. I've never met my editor, but if I'm ever in NY, I imagine she'd be happy to get together.
But it's not necessary to meet face to face to get the job done. Phone and email work just fine. I've had plenty of great phone conversations with both editor and agent.