ok i lied the video isn't in the thread, but it is in the link below 
http://www.engadgetmobile.com/2007/08/09/fake-iphone-cut-and-paste-demo-loves-you/
Ok, we can officially and finally put this debate to rest: yes, Apple really could use its multi-touch input system to enable users to friggin' copy / paste text in the iPhone. And to prove it, the usual random internet dude (lonelysandwhich) has put his skills to the test and developed a demo proof of concept video that Conan O'Brien will probably sue over. Hit it up after the break!

http://www.engadgetmobile.com/2007/08/09/fake-iphone-cut-and-paste-demo-loves-you/

Ok, we can officially and finally put this debate to rest: yes, Apple really could use its multi-touch input system to enable users to friggin' copy / paste text in the iPhone. And to prove it, the usual random internet dude (lonelysandwhich) has put his skills to the test and developed a demo proof of concept video that Conan O'Brien will probably sue over. Hit it up after the break!