Awesome, thanks. I didn't actually know about that one.
Note to the OP, since I misread that, Bijiont does not mean the "Up Arrow" key, but rather the key on the bottom left of the physical keyboard, with an "up arrow" on it.
It's actually Ctrl+V to paste on Maemo and every other platform I've used.

Also, in any program where you're in an editable text field (e.g. not the e-mail reading view, more's the pity) you should be able to use the stylus to select, or alternatively use Shift+arrow keys from the current location, as on the desktop.

Regarding the filesystem, it is a bit messy, and I think there's a really good article on the whats, hows, and whys of it, but here's the boiled-down version for now:
Your phone has two internal storage areas, the on-board flash, and an eMMC (think of it as sort of like an eMMC/SD card soldered onto the board). The former holds the root partition, and the latter is split in three partitions. /home is mounted to a 2GB EXT2-formatted partition on the eMMC. Thus, /home/user, which has all of your settings and such, is on there. /home/user/MyDocs is what you actually (sort of*) see in the File Manager, and it's on a FAT partition that takes up most of the rest of the space on the eMMC (aside from the swap/virtual memory, which is on its own partition). /home/user/MyDocs is also what gets mounted over USB when you plug it into the computer in Mass Storage mode.
Sidenote: this means that any configuration, sensitive application data, etc., ideally won't exposed to any computer you plug it into, although your personal files still will.
The only other thing to note, really, is the renaming of things. The fancy "Documents" folder with the pretty icon in the File Manager is actually at /home/user/MyDocs/.documents, and likewise for the rest of that group, with the exception of "Camera", which is actually /home/user/MyDocs/DCIM (just like standard cameras). Note that .documents and the like are hidden files (anything beginning with a '.' is hidden on Linux, so both the terminal and most file managers will not show them by default. I've never used Midnight Commander, but presumably there is some sort of "Show Hidden files" option. Failing that, it is fairly trivial (I say "trivial", not "easy", so no offense) to copy it in the terminal; if you tell us where you put things, I or someone else can give you a couple of lines that will do it right away.

As for the learning curve being steep, I don't know your level of experience, but Conky is an old program from Linux/UNIX, which was never really intended to be "easy", primarily because the sorts of people who tended to use Conky already had the requisite knowledge. In this case, it sounds like the quirks of the phone are throwing you off more than anything else. The community has come up with a lot of great apps, but some of them are not intended to be end-user-friendly. If you want to get your hands dirty, we'll be happy to help you, though.

I hope this helps