To perform pasting operations you can easily trigger a pop-up window with all entries by holding down right-click or using a hotkey, and then select the entry you want to paste. For those snippets of text you use more often, there is the possibility to set permanent entries.
There are numerous configuration options available. Just to mention a few, you can replace formatted text with plain text, ignore text clips of a certain size, enable RichText, HTML and Unicode text formats, allow the monitoring of picture and sound clips, set the number of items displayed in the popup window and enable sound notifications for each new entry.
Takes some time to figure out all it can do, but for those who perform cut and paste operations on a regular basis, ArsClip is a perfect tool to work with.