The mnemonic logic of the copy shortcut is undermined by the arbitrary paste shortcut. Also, from what I've seem a whole lot of average Joe computer users don't know or use these shortcuts, I think they're a lot further to the power user side of the skill spectrum than a lot of people here might expect.
The V isn’t arbitrary. Apart from the close location on the keyboard, the V looks like the handwritten mark often used to insert text in a physical document. This is similar to how the X suggests crossing out something.
On a US keyboard where these shortcuts were developed, you'd have to stretch your hand across the keyboard to reach Ctrl-P. That's why it's Ctrl-V, it wasn't arbitrary.
I miss Sun keyboards and their dedicated copy/paste keys.
Seems plausible. If anyone else is curious about the history here, I found [1]:
> The original computer terminals and microcomputers for which WordStar was developed, many running the CP/M operating system, did not have function keys or cursor control keys (arrow keys, Page Up/Page Down). WordStar used sequences of alphabetic keys combined with the "Control" key, which on keyboards of the time was conveniently next to the letter A in the position now usually occupied by the Caps Lock key. For touch typists, in addition, reaching the function and cursor keys generally requires them to take their fingers off the "home keys" with consequent loss of typing rhythm.