While I am a command line kinda guy, I do relent and use the mouse. Sometimes. And today, I made a happy discovery - the 3rd mouse button on Apple’s MightyMouse works just like the 3rd mouse button on Unix systems! Highlight text in the Terminal.app, press the tiny little track ball and the highlighted text shows up at the cursor. Now I am happy.
Note: In System Preferences -> Mouse, set the trackball to be 3rd button (from the pulldown list). I had forgotten that I did that.