While there likely isn't a smartphone on the planet that does not support cut and paste, Apple's iPhone users have been waiting patiently for years for something most consider entry level. The latest news out of Apple is that you will have to wait a little longer for this feature... This summer in fact when the iPhone 3.0 OS debuts with a host of great additions.
At that time you will not only get the addition of text copy/paste but also the ability to use the keyboard in landscape mode in all applications. In order to get to this other much-anticipated feature you double tap and slide your finger and pull it across the selection you want to highlight.
Oh yeah and a cool feature is the shake to deselect option if you decide you really don't need to copy what you just selected.
On the photo front there is the ability to send more than one photo at a time and MMS messaging. Other additions include a single search across the phone (calendar, songs, etc - search continues on severs), note synchronization, autofill, YouTube accounts and stereo Bluetooth.
There are lots of miscellaneous upgrades as well. For example, the stocks application now supports landscape and news stories while there is also a new voice recording application, the ability to forward and delete multiple SMS messages, undo support and perhaps the most anticipated is push notification which is not as good as allowing apps to run in the background but better than what we have now. What will happen is a 3rd party server will reach out to the Apple Push Notification Service and a pop up will appear on your screen. This is similar to how SMS works now.
Apple says the reason to support push instead of background apps by the way is because a single app such as IM running constantly can degrade battery life by 80% in standby.
There is also a new API fro streaming audio and video and a new API coming for in-game voice. In fact there is a ton of support for gaming and we can expect much better games for the iPhone going forward.
There is more - but still no Adobe Flash support -- for the complete story check here.