So I did a scrape of all the installation files (nb, m, tr) and this is what I got:
$dynamicLocationDump=CloudImport["https://www.wolframcloud.com/objects/b3m2a1/dynamic_location_dump.mx"];
It's an Association of files and what was found there. All of the files are to be ref pages, many for Combinatorica.
If we look at all of the stuff that's scraped, this is what we find:
$specs = Cases[$dynamicLocationDump // Values, _DynamicLocation, \[Infinity]] //
DeleteDuplicatesBy[Rest]
{DynamicLocation["VertexID$1", Automatic, Center],
DynamicLocation["VertexID$1", None, Center],
DynamicLocation["EdgeLabelID$2", Automatic, Scaled[0.5]],
DynamicLocation["VertexID$2", Automatic, Right],
DynamicLocation["VertexID$4", Automatic, Top],
DynamicLocation["VertexID$1", Automatic, {Right, Top}],
DynamicLocation["VertexID$1", Automatic, Left],
DynamicLocation["VertexID$5", Automatic, {Right, Bottom}],
DynamicLocation["VertexID$6", Automatic, Bottom],
DynamicLocation["EdgeLabelID$1", Automatic, Scaled[0.9]],
DynamicLocation["EdgeLabelID$4", Automatic, Scaled[0.965]],
DynamicLocation["EdgeLabelID$5", Automatic, Scaled[1]],
DynamicLocation["EdgeLabelID$1", Automatic, Scaled[0.]],
DynamicLocation["EdgeLabelID$1", Automatic, Scaled[1.]],
DynamicLocation["EdgeLabelID$2", Automatic, Scaled[0.96]],
DynamicLocation["EdgeLabelID$2", Automatic, Scaled[0.955]],
DynamicLocation["EdgeLabelID$1", Automatic, Scaled[0]],
DynamicLocation["EdgeLabelID$1", Automatic, Scaled[1/4]],
DynamicLocation["EdgeLabelID$1", Automatic, Scaled[1/3]],
DynamicLocation["EdgeLabelID$1", Automatic, Scaled[1/2]],
DynamicLocation["VertexID$1", Automatic, {Left, Bottom}],
DynamicLocation["VertexID$1", Automatic, {Left, Top}],
DynamicLocation["EdgeLabelID$1", Automatic, Scaled[0.6]],
DynamicLocation["EdgeLabelID$3", Automatic, Scaled[0.3]],
DynamicLocation["EdgeLabelID$1", Automatic, Scaled[0.4]]}
This suggest you pretty much hit everything. Let's just do one last quick look:
LocatorPane[Dynamic@x,
Graphics[{
EdgeForm@Thick, FaceForm@None, Rectangle[BoxID -> "box"],
{Arrow[{Dynamic[x], #}], Red,
Text[HoldForm[#], Offset[{1, RandomInteger[{-20, 0}]}, #]]} & /@
DeleteDuplicatesBy[
Reverse@$specs, {#[[2]], Head[#[[3]]]} &] /. s_String -> "box"
}, PlotRange -> 2]]

Sorry about how tough that is to read. In any case, the only thing you didn't mention (I think) was the Automatic | None difference. None seems to mean the location within the parent primitive itself. Automatic appears to mean the nearest position along the primitive's boundary.
Update:
So I did a scrape of all the GraphicsBox-es and this is what I got:
$gbDynamicLocationDump=CloudImport["https://www.wolframcloud.com/objects/b3m2a1/graphics_dynamic_location_dump.mx"];
Then let's see what sort of things these BoxIDs are assinged to:
Cases[Values@$gbDynamicLocationDump, _[___,
BoxID -> _, ___], \[Infinity]] // DeleteDuplicatesBy[Head]
{TagBox[DiskBox[{0., 0.}, 0.0203996], "DynamicName",
BoxID -> "VertexID$1"]}
So we can see they always use a TagBox. And, moreover, the DiskBox is supported, just we need to specify it right:
LocatorPane[Dynamic@x,
Graphics[{
TagBox[DiskBox[{0, 0}, .1], "DynamicName", BoxID -> "box"],
Arrow[{Dynamic[x], DynamicLocation["box", Automatic]}]
},
PlotRange -> 1]
]

I don't know how to do this in top-level primitives, though, so if someone else could chime in with that it'd be great.
Update 2:
Here're some of the scraped up supported box styles:
Cases[Values@$gbScrape, _[___, BoxID -> _, ___], \[Infinity]] //
Map[First] // Flatten // Map[Head] // DeleteDuplicates //
DeleteCases[
Hue | GrayLevel | Thickness | RGBColor | EdgeForm | Arrowheads]
{DiskBox, StyleBox, TagBox, InsetBox, ArrowBox, RectangleBox, \
CircleBox, FilledCurveBox, DynamicBox, PointBox, PolygonBox, LineBox}
Which basically suggests everything is supported. Let's look at one example pulled directly from the scrape:
$edgeBox =
TagBox[StyleBox[
ArrowBox[
BezierCurveBox[{DynamicLocation["VertexID$1", Automatic,
Center], {0.16929929238168392`, -0.060834906748745296`}, \
{0.06631873896502918`, -0.24007829047418064`}, \
{-0.06588137300327365`, -0.2866769520693191`}, \
{-0.32874748131339104`, -0.01720980682360899`}, \
{-0.27888503732236586`, 0.11379416848298976`}, {-0.09714320225168427`,
0.21229843426110356`},
DynamicLocation["VertexID$1", Automatic, Center]},
SplineDegree -> 7]], Arrowheads[Medium], StripOnInput -> False],
"DynamicName", BoxID -> "EdgeLabelID$1"];
LocatorPane[Dynamic@x,
Graphics[{
$edgeBox,
FaceForm[None], EdgeForm[Black],
Rectangle[Dynamic[x], Dynamic[-x], BoxID -> "VertexID$1"],
Arrow[{Dynamic[x], DynamicLocation["EdgeLabelID$1", Automatic]}]
},
PlotRange -> 1]
]

It gives a sense of how powerful this can be
Here's just one last trick we can do:
LocatorPane[Dynamic@x,
Graphics[{$edgeBox, FaceForm[None], EdgeForm[Black],
Rectangle[Dynamic[x], Dynamic[-x], BoxID -> "VertexID$1"],
Arrow[{Dynamic[x],
Dynamic[
y = FE`Evaluate@DynamicLocation["EdgeLabelID$1", Automatic]
]}]}, PlotRange -> 1]]
It looks the same, but y takes on this weird Perimeter value that clearly the FE uses:
y
Perimeter[{{-0.351329, -0.306885}, {-0.351329, 0.612441}, {0.362441,
0.612441}, {0.362441, -0.306885}}, BezierCurve, Automatic, \
{{0.344778, -0.12389}, {0.319816, -0.116786}, {0.295984, -0.113405}, \
{0.273094, -0.113086}, {0.25097, -0.115206}, {0.229447, -0.119181}, \
{0.208376, -0.12447}, {0.187628, -0.130578}, {0.167094, -0.137054}, \
{0.146685, -0.143494}, {0.126339, -0.149538}, {0.106013, -0.154875}, \
{0.0856889, -0.159237}, {0.0653717, -0.162401}, {0.0450872, \
-0.164185}, {0.0248819, -0.164449}, {0.00482093, -0.16309}, \
{-0.0150137, -0.160042}, {-0.0345254, -0.155269}, {-0.0536057, \
-0.148769}, {-0.0721368, -0.140563}, {-0.0899945, -0.130697}, \
{-0.107052, -0.119236}, {-0.123181, -0.106261}, {-0.13826, \
-0.0918662}, {-0.152171, -0.0761518}, {-0.16481, -0.0592238}, \
{-0.176085, -0.0411881}, {-0.185923, -0.0221469}, {-0.194274, \
-0.00219502}, {-0.201111, 0.0185843}, {-0.206439,
0.0401228}, {-0.210292, 0.0623712}, {-0.212744,
0.0853023}, {-0.213904, 0.108915}, {-0.213925,
0.133236}, {-0.213007, 0.158324}, {-0.211393,
0.184273}, {-0.209381, 0.211212}, {-0.207318,
0.239309}, {-0.205605, 0.268775}, {-0.204699,
0.299858}, {-0.205113, 0.332852}, {-0.207418,
0.368093}, {-0.212241, 0.405961}, {-0.220266,
0.446879}, {-0.232235, 0.491312}, {-0.248944,
0.539763}, {-0.271242, 0.592778}}, 0.00277778]
Note that despite the naming, this is not Perimeter as if you try to evaluate you get an error. Rather this is something handled in the FE itself. But we can use it:
Quiet@Graphics[{
Arrow[{
{0, 0},
Perimeter[{{-0.3513294816166106`, -0.3068850371721661`}, \
{-0.3513294816166106`, 0.6124405927277219`}, {0.3624405927277219`,
0.6124405927277219`}, {0.3624405927277219`, \
-0.3068850371721661`}}, BezierCurve,
Automatic, {{0.34477777777777785`, -0.12389020453117933`}, \
{0.3198158080521647`, -0.11678572885825483`}, {0.2959835781061064`, \
-0.1134049116935066`}, {0.27309421626600816`, -0.11308626362062549`}, \
{0.25097018105818075`, -0.1152060089894028`}, {0.22944697314491685`, \
-0.11918089795392665`}, {0.20837622351438345`, \
-0.12447042298528227`}, {0.18762818539739076`, -0.1305784672904533`}, \
{0.1670936573840974`, -0.13705441256912174`}, {0.14668536521371014`, \
-0.14349373354006323`}, {0.12633882971023885`, \
-0.14953810666883527`}, {0.10601274833736543`, \
-0.15487506052845523`}, {0.08568891784548616`, -0.1592371952247659`}, \
{0.06537172548398723`, -0.16240099831818505`}, {0.04508723625181282`, \
-0.16418528467353688`}, {0.024881903659384697`, \
-0.16444928766966216`}, {0.004820931474933732`, \
-0.1630904292005044`}, {-0.015013686071698618`, \
-0.1600417958993694`}, {-0.034525418154727594`, \
-0.15526934901805498`}, {-0.05360571781450374`, \
-0.1487688953925486`}, {-0.07213678154294184`, \
-0.14056284692698964`}, {-0.08999452051924084`, \
-0.13069679602759415`}, {-0.10705171602283764`, -0.119235934418238`}, \
{-0.12318133155053107`, -0.10626134276939753`}, \
{-0.13825995416472048`, -0.09186617857214373`}, \
{-0.1521713375996978`, -0.07615178968888592`}, \
{-0.16481001965293363`, -0.0592237810125657`}, \
{-0.17608498638829806`, -0.04118806166599455`}, \
{-0.18592335567815732`, -0.02214690017303507`}, \
{-0.1942740526112855`, -0.002195015033320563`}, {-0.2011114492935343`,
0.018584271867786717`}, {-0.20643894156819753`,
0.040122791582304446`}, {-0.21029243518301577`,
0.06237116672410781`}, {-0.21274371393075708`,
0.08530230496307703`}, {-0.2139036622903172`,
0.10891471995722232`}, {-0.2139253150952799`,
0.13323565229107964`}, {-0.2130067067568755`,
0.15832396298869578`}, {-0.21139349256828177`,
0.18427277216948668`}, {-0.20938131461720355`,
0.21121181541528777`}, {-0.2073178848336742`,
0.23930949041688565`}, {-0.20560475770002262`,
0.2687745664683503`}, {-0.2046987651499378`,
0.2998575293774527`}, {-0.20511308618358182`,
0.3328515343604829`}, {-0.20741792372567824`,
0.3680929394897675`}, {-0.21224076125353575`,
0.405961392262186`}, {-0.22026617172192897`,
0.44687944185699774`}, {-0.23223515131178862`,
0.4913116496512662`}, {-0.24894395052962903`,
0.5397631705612203`}, {-0.2712423751846815`,
0.592777777777778`}}, 0.002777777777777768`]
}]
}]

Polygon,but could you give me aCircleexample? – yode Sep 06 '17 at 16:47Insetworks great. – b3m2a1 Sep 06 '17 at 19:16