Paste Text without Formatting in One Click
Applies to Word 2004 and earlier versions; see here for Word 2008
There is no way (yet) to set the default paste format, nor does Word have predefined commands in Tools>Customize for the various paste options. To get one click access to these, you need to install a macro that carries out the custom paste, and assign the macro to a toolbar or a keyboard shortcut.
Here are the macros you would need. If you haven't a clue what to do with this gibberish, click here for installation instructions.
Normally, you could record these macros. While the macro recorder works for steps involving the paste options clipboard, it is broken for anything involving Edit>Paste Special.
Note: Word 2004 added a "Paste Options" clipboard, the little icon that shows up at the bottom of newly pasted text. One of the options on this clipboard is "paste matching destination format." You can turn the paste options clipboard on and off via Word>Preferences>Edit.
Paste Unformatted Text
SubPasteUnformattedText()
'
' equivalent to Edit>Paste Special>Unformatted Text and to using
' the smart button in Word 2004 to select "keep text only"
'
Selection.PasteSpecial datatype:=wdPasteText
End Sub
Paste and Match the Formatting in the Destination Document
SubPasteDestFormat()
'
' equivalent to using the paste options clipboard in Word 2004 to
' select "match destination formatting" after pasting
' will not work in versions before Word 2004
'
Selection.PasteAndFormat (wdFormatSurroundingFormattingWithEmphasis)
End Sub
Make the Macros Easy to Use
Keyboard Shortcut: Once the macros are installed in your Word setup, you can assign a keyboard command to them. Click Tools>Customize>Customize Keyboard, select Macros in the left column, select the appropriate macro in the right column, enter a keyboard shortcut below, and click Assign. Word will warn you if the shortcut is already assigned.
Toolbar Icon: Once the macros are installed in your Word setup, you can put them on a toolbar. Click Tools>Customize>Customize Toolbars/Menus, and go to the Commands panel. Select Macros in the left column, select the appropriate macro in the right column, click it and hold, and drag it to a toolbar.
Control-click or right-click the new toolbar icon and select Properties. In the Properties dialog, the View dropdown menu will let you set whatever combination of text and icon you prefer. The arrow next to the icon will produce a dropdown menu that lets you pick an icon. To create a custom icon, you must create your own picture (normally 20x20 pixels) in any image editor, and use the Paste Button Image command to transfer it to Word. New in Word 2004: you can also click Keyboard... from the Properties dialog to assign a keyboard shortcut.
