The line~ object is intended for use as a control signal for audio. You don't listen to line~ directly, but it's very effective as a controller/modifier/modulator of other signals. A pair of numbers (i.e. a two-item space-separated list of numbers) tells line~ a destination value and a time (in milliseconds) to get to that value.
The MSP phasor~ object is frequently used as a low-frequency control signal for audio. Because it is often used to control other signals over a specific period of time, phasor~ can use tempo-relative timing, too. The frequency (rate) of a phasor~ is normally specified in Hertz, but you can alternatively give phasor~ a time interval, using tempo-relative time units, and it will use the inverse of that to determine its frequency.
For linear interpolation of a MSP signal, the line~ object sends out a signal that progress to some new value over a certain amount of time interpolating sample-by-sample along the way. The input to line~ is a pair of numbers representing a destination value (where it should eventually arrive) and a transition time (how long it should take to get there). It can receive multiple pairs of numbers in a single message, and it will use the pairs in order, starting each new pair when the previous transition has finished.