Microsoft has decided that it will not supports tethering on Windows Mobile 7. A company spokeswoman told Electronista that statements from Microsoft's own Brandon Watson weren't correct.
Watson claimed that Redmond were enthusiastic about tethering and the new OS will be able to do it out of the box, but the spokesperson said that that the OS wouldn't support tethering in any form on launch.
Tethered connection sharing was an eventual goal but wouldn't be ready for October. It is the lastest thing to fall out of the OS.
Copy-and-paste text and full multitasking have also been cut and are only slated to come back in subsequent updates.