I bet the iPhone OS X 2.0 will bring the long waited, dearly missed feature of being able to Copy/Paste text and, possibly, files like photos or notes and items like contact details. I can see why they haven’t so far, it’s probably one of the hardest things to implement while keeping the UI as simple as it is. I have two reasons to believe this:
Firstly, it’s pretty obvious. It’s a feature that is missed by more people than the Exchange support is. There’s has been literally countless times when I’ve wanted to send a phone number from my contacts in an email, or SMS, or paste a piece of text from a webpage. You just can’t do it. This would also make the Notes app so much much more useful*.
Secondly and more crucially, Now that the SDK is out, third-party app developers will want to write apps where this is possible. And to keep this sort of feature consistent system wide, Apple has to device it themselves and not allow several different implementations by different developers.
Way I think it’ll be possible is through some sort of contextual menu or some thing similar as we have in the Maps app where the page curls. Copy/Paste -mode. That’s just speculation but no matter how they implement it, I’m sure we’ll have it by mid-June.
*BTW, I think it might be pretty cool if the Notes app doubled as email drafts. This way they’d be automatically synced via IMAP and you could continue editing on you desktop.