Whats the deal with Windows Phone 7 (WM 7)?

Is it just me or is there simply a lack of interest to new mobile operating systems ever since the iPhone and Android devices started to take over the world of smartphones?  Palm Web OS to me was just another shot at prolonging Palm's footprint from fading; Nokia's Symbian attempt is starting to look really old really fast and Windows Mobile 7 aka Windows Phone 7 to me just feels like its too little too late.  If you haven't studied up on this OS, take a look at this all you can eat buffet of WM7 information from Engadget.

Things have gotten even stranger when I came across this article from Minyanville which explains why the mighty engineers at Microsoft is justified that no COPY & PASTING is going to make it to the new OS; this is laughable and a huge step backwards.  Apparently, MSFT thinks they've got these bases covered because they have some kind of smart "linking" technology that would recognize most users' needs to copy & paste.  In my humble opinion, NOTHING can replace the needs of copying and pasting.  BTW, incase you didn't already know, prior Windows Mobile OS (6.5 and earlier) are capable of copy/cut/paste functions.