Still dreaming of: Simple COPY or CUT and PASTE for iPhone

Here's my suggestion

COPY/CUT
Two finger touch and hold opens magnifier loop for a start point. Slide the two fingers around together to adjust the starting point. Lifting both fingers off while they're still together will cancel the action.

Once the starting point is selected, hold one finger there and move the other finger away from it then lift either finger off. Move the remaining finger to the desired end point. Lifting the final finger will copy the text and leave it highlighted in a new color.

To adjust the end point, simply use a touch and hold (single finger), and slide to a new end point and release. Since text is already highlighted, the touch and hold will adjust the end point.

Pressing the delete button at this point turns a "copy" into a "cut"...

PASTE
Two finger click and hold opens the magnifier again for a starting point (it deselects any highlighted text). Spread the fingers, then lift both off to paste.

DELETE/UNDO/REDO
delete, a swipe to the left. Undo, a swipe to the left and immediately to the right. Redo, a swipe to the left, right, left again.

NOTES:
-If nothing is on the clipboard, a paste should NOT be recorded as an undoable action since there would be no feedback for the user upon an undo and/or redo action.
-A single touch will deselect any highlighted text if you want to cancel a copy after you've already defined an end point.

Apple is free to use this idea that I am presenting here on the Able Mac Blog. I did not base this on anything except my experience with my iPhone. I will also be posting this to Apple's feedback form.

Able
http://www.ablemac.com/blog