One of the bugbears most people have about the iPhone is that Apple
left out a copy and paste function. One enterprising company has
some sticky-back plastic (ok not the sticky-back plastic).
Called Pastebud, the service doesn’t require an application to be
couple of bookmarks.
One bookmark prepares and loads the page you are looking at. Then you
are ready to select the text you want to copy with you finger.
You can then copy the text to an email or to a text field on another web page.
More details can be found on the Pastebud website and below is a demostration of how it works.