Try copying an image from a website (say Flickr) and pasting it into a presentation document, movie timeline, or formatted email (maybe you want to send your girlfriend a review of a hotel for an upcoming trip) in ICS.
Wouldn't be able to tell you. That's not something I've ever tried or had any need to do (yet?). I'll try to remember to give it a shot next time I have my phone in hand and get back to you. You could be perfectly right.