Windows Phone 7 handsets now have the ability to copy and paste text. An update went out yesterday for the phones, and added copy/paste functionality, as well as a speed boost for apps and games, improved app searching, and improvements to the Marketplace, Outlook, Facebook integration, and more..

Windows Phone 7 handset owners should have received a notification on their phones yesterday, telling them to connect their handset to their computer and update their phone software. The update is staggered between countries, so while the U.S. release happened yesterday, those of you abroad may have to wait to update your phones.

Do any of you have a Windows Phone 7 handset? Did you get the update? What do you think about it?