This is from a post in another thread on these forums:
The first is a feature that has been missing in OS X for a while, which is the ability to cut and paste files. Microsoft introduced this in Windows quite a while ago with the Ctrl-X / Ctrl-V combination, but Apple didn't have a similar option, resulting in people resorting to various scripts and utilities to get this functionality. Apple has finally implemented this feature in OS X Lion, but has not done so by duplicating the Cut and Paste options that are seen in Windows. Instead, you first select a file or multiple files and then press Command-C to put it on the clipboard, followed by either pressing Command-V to copy the file, or Option-Command-V to move the file to the desired location.