It seems that in the new Windows 7 the tool "Clip" is included. According to Technospot.net you can use this tool to copy any text inside the command prompt. Just type "| Clip" follow with any command you entered.
This will copy the output result of the command to the system clipboard.
For example, type and run the following command in Run dialog box.
cmd > tracert www.nextofwindows.com | Clip
And it will copy the output of the command into the Clipboard. Later, you can paste them into any word editor tool, for example, notepad.
It’s a nice little tool that will be useful to IT Pros who use a lot command prompt on daily basis. Before Windows 7, the following alternative method is doing the same. But in my own preferences, this new clip feature is a lot nicer.
You can right click either choose Select All or Mark, and then Press Enter. This should copy whatever it has highlighted and copy it to clip board.