I have implemented a cloning feature in our custom modules, it basically created a new content item based on an existing one. The only thing it changes is the title (adds " - copy" to it), the url (to avoid url duplication) and the status (the new items starts as draft). This works amazing for us as we have some very complex content types and its so much easier to clone them and just make a few changes.
The problem is that we're currently looking into migrating out of custom modules and into dynamic modules and I'm now concerned that we won't be able to clone items anymore. I'm pretty sure the business users will be very disappointed about this.
Also, let me know if u guys would like more details on how I implemented this on our custom module. FYI, I added a "clone" option under the "Actions" menu in the grid list/view page.