Indeed.
Microsoft stole those keyboard shortcuts from MacOS.
I muchly prefer MS's oldschool keymap (used for DOS's EDIT aka Q-Basic, still present in windows) (this is probably because I use the dvorak layout, where X, C, and V aren't in a row):
  • Cut - SHIFT + DEL
  • Copy - CTRL + INS
  • Paste - SHIFT + INS

I've noticed a difference in programs in which you can't modify the data, such as Xterm where left mouse button selects, right extends, and middle pastes.
WindowsTM 98's console uses an annoying rectangular selection box icon to copy and a paste icon to paste.
Win2k and XP have a system where clicking inside the window enters "select mode", enabling you to retry drawing the rectangle until you right click, and the selected text is copied to the clipboard.
also see: How to cut and paste in Mac OS and cut and paste in X