Windows Mobile 6.0 Amateur, um, Standard Edition (formerly known as Smartphone) doesn’t let you copy and paste text. This is fixed in Windows Mobile 6.1. Pocket PC/Classic/Professional Edition users have always had this feature and may now issue a smug look of superiority at Smartphone users who will need to wait a while more before getting this feature.
I wonder if the resurgence of interest in touch screens caused by the iPhone’s popularity will diminish the market for touch-less smartphones though.