I heard about this cool utility on TechTV tonight, Clipomatic. It is a small Windows utility that runs in the system tray and keeps track of everything you cut or copy. It keeps a cache of the last 10 items to be put on the clipboard. When you are ready to paste, hit CTRL-ALT-V (instead of CTRL-V for "standard" paste) and a small context menu appears that allows you to select from the last 10 items copied to the clipboard. There are also some additional features that allow you to save clips for reuse and otherwise reuse common clips.