I do like the context menu way.
I do like the context menu way.
middle click is "query for the most recently selected thing and paste" while the clipboard requires an explicit copy action. In vim (even terminal vim) with X support they are the '"' (double quote) and '+' (plus sign) registers respectively. Most other applications let you copy and paste with CUA (or for terminals shift-modified CUA) keybindings.
So for something I plan on pasting longer term (or multiple times) I will typically use the clipboard. For quick "this thing needs to go here" with the mouse I use the primary selection.
I also agree that middle-click is nearly useless on a scrollwheel. Many mice have more than two buttons these days so you can always remap a function button though (as I mention in another thread, my trackball actually has 3 legit full-size top buttons, but prior to that I remapped the "browser forward" button to be middle).
This is not to say that explicit actions on the clipboard aren't useful. But, as an emacs user, I'm used to way more control over the kill ring than I typically see exercised on the clipboard.
Eventually I remember to ctrl+c but it just flows so well, select then paste that it feels like a real step backwards going to a system that does not have it.
I do agree that the middle mouse button should be divorced from the scroll wheel.
If you want to go real old school and have a proper middle button, get an HP DY651A optical 3-button USB mouse (no scroll wheel).