Have you seen the newest update? Wow. You hold anywhere in seemingly any app and a very nice-looking window pops up with the option to Cut, Copy, Paste, or see your Stack. It actually looks very iPhone native. I love it. It is now definitely better than hClipboard.
Now my only worry is that the author seems to COMPLETELY change the app with each update rather drastically. I really think he got it right this time and I really, really hope he sort of just leaves it how it is.
EDIT: Here are some screenshots!
1. Hold and wait for Clippy's pop-up window on any paragraph of text in virtually any app and choose Copy:
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2. Now find a place where you can type, like Notepad, Text, Email, etc., hold and wait in the typing area for the pop-up window again and choose Paste to paste you last copied/cut item. Alternatively, you can choose Stack and see a list of all your past copied items.
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3. Your text is pasted.
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4. If you want to copy just a certain portion of a paragraph, double tap and hold on the beginning of the text you want to copy and drag to the end of the section you want.
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5. Let go to see the pop-up window. Notice that since the text is editable, you now you have an option to Cut as well as Copy.
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And don't forget, choosing Stack will give you a list of everything you have copied in the past which you can paste again at any time. (I don't think I'm allowed more than 5 images per post or I would give you another screenshot :/)