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I found this little handy shortcut a few weeks ago. Really cuts down the time it takes to make cut and paste operations from web pages.

Inside of Internet Explorer:
One Mouse Click - Places the cursor on the page.
Two Mouse Clicks - Selects the current word.
Three Mouse Clicks - Selects the current paragraph.

Now CTRL-C to copy to the clipboard and then switch to the target application and CTRL-V to paste the text.

I did not see this functionality in Mozilla Firefox.