Yesterday, a new online service called Pastebud was announced on the net. So far, it seems like it offers what seems to be the best solution to me to what has been one of the iPhone’s greatest weaknesses to date, the cutting and pasting of text, which has been a hassle in the past. However, there is only one caveat, the service only seems to currently work in the iPhone’s Mail.app and Safari. Using some very clever javascript programming, the developer, Jed Schmidt is able to copy selected text to his servers and then paste it back into the applications.