This also applies to Office 2007 and 2010. Based on my original post Feb 2004 relating to Office 2003 and prior.
Most people know how to use copy and paste in Office. Or do they? Right click a selected item(s) and copy, then right click the destination and paste.
That is definitely the slow way. Keyboard people know about Ctrl+C and Ctrl+V for Copy and Paste. (or CTRL+Insert / Shift +Insert)
New Office, (2007, 2010, 2013) uses the Paste button in the ribbon to provide access (though there is still keyboard access with ALT+E+S).
Once you have something in the clipboard with the copy command, clicking the little arrow below Paste Icon in the ribbon gives you a lot more options. Each office application is slightly different as to what you get.
Word has less options than Excel. Powerpoint and Outlook, Live Writer and Publisher etc. all use this feature differently. However each of them allow you to strip metadata (formatting etc.) from the actual text and just paste the text. This extremely useful when copying text from a web page, PDF file or some other heavily formatted document.
And clicking the Paste Special link at the bottom brings up the traditional dialog box.
Ill take you through the main ones for Excel.
You can also combine options from each section as per the example below.
Joseph Chirilov has written a series of 3 posts showing exactly how to build a fully functioning media player inside Excel.
While we are talking about Joseph's site I want to highlight two other posts that are there.