First I'm very new to smart phones:

I use the application called Handcent SMS, if I hold down the Message bubble when texting I have an option menu appear > Message Options > Copy Message Text.

1) Question: Where does it save the copied text to and how can I paste it to lets say another app like the already built in Phone Book.

2) What is a good place to see a list of function apps for the Droid, and why is the latest build still 1.6 when other phones already have 2.2? (sorry if that question has been asked before.