Just posted the following on the link above for iPhone suggestions:
Can't agree more that the fact that a Blackberry can copy/paste and the iPhone can't is absurd. What I think is also missing on the iPhone keyboard is an up/down/right/left arrows to more easily navigate through text you are typing (Blackberry makes it easy to do by using scroll wheel or button). If that were available, copy/paste implementation would become much easier. My suggestion would be when you hold down your finger at a point in the text, instead of a magnifying glass popping up, the cursor would move to where you were holding down and the keyboard area would change to a smaller size and reveal nine buttons: shift, copy, cut, paste (grey'd if nothing has been previously copied/cut), up/down/right/left arrows, and an exit button to get back to the regular keyboard. You could then more precisely position the cursor using the arrows. To copy/cut text you either use your finger to highlight (like you currently do to move the cursor) or use the shift button and hit the arrows to highlight, much like you do on a regular keyboard.
Thoughts?