The much called for Cut & Paste facility is finally here via a community project called OpenClip. The fact that such a facility has thus been unavailable on the iPhone has been the cause for much knashing of teeth by all iPhone owners. MagicPad was the first initiation of the cut & paste function but that software couldn't make the command a universal one.
OpenCLip can now help implement copy and paste on any iPhone App without violating the iPhone SDK agreement. The problem has always been Apple's refusal to allow any utility to run in the background - as might happen on a desktop or laptop Mac or PC. Principally because too many resources would be used. Open Clip, an open sourced utility created by Zac White, however, uses a ‘shared space' in the iPhone, according to the Geekbrief.tv website. This means that it will act as a common area for any application to access the cut & paste command.
Click to read the Geekbrief.tv story