It looks like the copy paste function is the holy grail of all iPhones so far. How could this simple, daily feature have been overlooked for the second year in a row? MagicPad is an upcoming store application destined to be a success. I think a bunch of developers have been thinking about creating an application which will hint a copy paste version which the rest of us can use until master Steve Jobs decides to implement one in the next iPhone.

Proximi is the company behind MagicPad. The application is similar to the default notes tool from the iPhone. There are some improved things. There’s support for multiple fonts, rich text elements like underline, italics and strikethrough, and of course, the copy paste.

MagicPac will add a small toolbar on top of the iPhone’s keyboard. With the loop magnifier you will be able to highlight text and copy into a virtual clipboard. From there you can paste it into any notes. Too bad you can’t get the clipboard everywhere else.

Like it? Check out the video below to see it in action:

First Look - MagicPad from Apple iPhone Apps on Vimeo.