I wish the Windows Clipboard would implement a version of the kill ring. I really, really hate not having previous cuts and copies available. As a rather clumsy work-around I keep an emacs scratch file open on my task bar and copy stuff I might need more than once to it.
I haven't used Emacs, but I've worked with people who have, and the one thing that made me think 'wow' was this. So many times have I yanked something, deleted some white space or some such, and then lost it.
Oh yes. The only thing I wish vi had was a key that let you traverse these so you don't have to remember exactly how many yanks ago you yanked something.