First of all: Excellent idea, and good start!
What about allowing rich text?
I have been using a snippet tool from
© 2005 Rolf Holighaus
Waldenburger Straße 11
D-57250 Netphen
EMail: RHolighaus@RHacl.de
www.rhacl.de
for about six years. This has to be triggered by an action (keyboard short-cut), no drag and drop. BUT: Rolf's tool can paste rich text. As for my personal usage preference: I definitely need Notes-rich-text pasting.
Ludwig