It's not perfect, but it does work and when I say work, I mean it cuts and it pastes — done and done. MagicPad, a new app that's currently waiting approval on Apple’s App Store is the closest thing I've seen that actually brings cut and paste functionality to the iPhone. And when I say functionality, I mean being able to drag sections of text in one application. That's right, you can copy and paste between notes with MagicPad, but you can't copy text from one application to another. Hello? What about copying links and putting them in an email? It shouldn't be long now, fingers crossed!

First Look - MagicPad from Apple iPhone Apps on Vimeo.