Copy & paste coming to the iPhone

One of the common complaints about the iPhone has been the lack of copy & paste. A hot news item on blogs the past couple days is the imminent arrival of Pastebud. According to Gizmodo, it's pretty limited: you can copy and paste from Safari to Mail, and from one web page to another. It's a jury-rigged solution that uses functionality already available on the iPhone -- no need to install an app.