I picked up a link to this tool from a comment to a blog post and I have already used it extensively this morning. It allows you to strip the formatting that gets added to text copied from an Office application by clicking an icon in your systray between the copy and the paste. So basically it takes out that added step of opening up NotePad, pasting in the text, copying it once more, and pasting again in your final target place.
It is an ideal and essential tool for both SharePoint CEWPs and MCMS. Definitely worth a download:
PureText 2.0