Do you know that when you receive an email from a friend, who may give you a phone number and a date to meet for a drink, those items become hyperlinks. In other words, when you click on the blue underlined phone number and date, it will bring you to Contacts and Calendar respectively. It means, a phone number can be stored to an existing contact or you can create a new one, and the date when click will direct you to the calendar date and page to edit as an appointment. What it means is that you don’t even need to do a cut/paste and you create a contact or update, and a calendar event just like that, from an email.
When I used Android 1.5, I don’t remember this feature. Since there was no cut/paste either, I had to jog the info down on a piece of paper. Now that Android is at 2.6 version, I believe, may be this feature is now available like the iOS ?! I will check on my friend’s Samsung Galaxy II and update this when I find out.