We’ve been hearing information on the WP7 Copy.paste update since December, but Microsoft has finally given us a release date for the update. This update contains copy/paste, application speed improvements, and a whole lot of bug fixes. The update will be available in early March.
First Major Update
A free customer update will be made available for all Windows Phones in the first two weeks of March, which includes new capabilities such as copy & paste and faster application performance.