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The 1.1.1 update also included a slew of other changes that are not revenue generating. How do you explain them?

And again, why February?

They were mostly bug fixes. I can't remember a change that it added that was really that impressive anyways. I think there were some sounds added for SMS which was nice but again, a small feature. In February, the SDK is released and anyone will be allowed to make and sell apps for the iPhone.
 
Copy and paste is something that can be fixed over a software update. The problem is that we are yet to see an update with it. I don't know that there is one coming soon either. It would be a nice Christmas gift if Apple decided to release it in December. I hope we get it soon, I never realized how useful it would be until after I had used my iPhone for a month.
 
They were mostly bug fixes. I can't remember a change that it added that was really that impressive anyways. I think there were some sounds added for SMS which was nice but again, a small feature.

Apple Releases iPhone 1.1.1 Update
New Features include:

- iTunes Wi-Fi Music Store
- Louder speakerphone and receiver volume
- Home Button double-click shortcut to phone favorites or music controls
- Space bar double-tap shortcut to intelligently insert period and space
- Mail attachments are viewable in portrait and landscape
- Stocks and cities in Stocks and Weather can be re-ordered
- Apple Bluetooth Headset battery status in the Status Bar
- Support for TV Out
- Preference to turn off EDGE/GPRS when roaming internationally
- New Passcode lock time intervals
- Adjustable alert volume
Just because you didn't find these new features impressive, doesn't mean that some of them do or do not generate revenue. That was your original stance, right? In fact, the preference to turn off EDGE/GPRS when roaming internationally seems to reduce potential revenue.
 
Here's why you'd want copy & paste on your phone

Say you're going to the gym and you keep a log of your workouts on your phone (more green than using notebooks, no?). When I had my treo, and I wanted to work legs one day, I would find the last time I worked legs, go to the events note, copy and paste it into today's note. I would then edit the note as I went along so as to keep track of my progress. Getting stronger? Getting weaker, etc. Or maybe I just want to copy my flight info from an email into an event note. It would be very nice (almost like perfunctory actually) to be able to do this.
 
I was thinking, for copy/paste...

You put the cursor somewhere, then at the bottom of the screen there will be a "highlight" button, first push starts the highlighting, you place the cursor where you want it to end, press the "highlight" button again, and the selection is highlighted.

Then, to cut, the delete button already in the keyboard can take care of that. Then there is the addition of the "copy/paste" button. This will take the selection and allow you to obviously copy and paste it. I would think maybe the flip up corner would be useful for these additional buttons and features just like the new button additions 1.1.3 saw in the Maps feature.

Figured this is the easiest way because obviously holding and dragging the cursor just magnifies and moves it, so the button is essential without getting into too many complicated touch techniques I'm seeing people suggest.
 
Not easy to add

Having written several UIs myself:

Copy/paste is not so easy to add, if the underlying UI wasn't written with it in mind.

Instead of just putting the text and image pixels on the screen, the UI will also have to keep track of their locations.

(Safari does a bit of that, for links and saving photos, but that's within the application.)

Besides using more memory, c&p could add to slowdowns as well. And the iPhone is all about looking quick.
 
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