Found an amazing glitch in PPT 2008. When you have some text in the slide and want to copy a word, one can highlight it, hit copy or command-C and then paste in the new location. But in PPT 2004 and all other Office apps one could simply highlight a word, press option (a + sign will appear) and drag it to the new location. Now, in PPT 2008 this drag option does not work, although the + sign appears. The word just moves to the new location and disappears from the original one. This is really weird, especially because it works in Word 2008. Is this my PPT or is it a universal problem?
I am running the latest version of Office 2008 (I guess it is 12.2.3).
Looks like this c**p is real - duplicated on another computer with a different version of Office.
Really bad joke from Uncle Bill...
Any ideas on how to fight this?

This bug was confirmed by three independent users on PPT forums at Microsoft. This is another step back from Office 2004 that executed this command properly. The new Office 2008 update did not address this issue.
There are some more stupid things in PPT that were not there in 2004, like being forced to paste picture/object "as PDF" (!) from PPT to Word text box to preserve resolution and quality. Are they outsourcing programmers now???