We share a lot of scripts with you Mac junkies here at Lifehacker, which requires a lot of copying and pasting. By checking one box in System Preferences, however, you can send that code to AppleScript Editor in one click.
Head into System Preferences and go to Keyboard > Keyboard Shortcuts > Services. Scroll down to "Development", and check the box next to "Make New AppleScript". You can even give it a keyboard shortcut if you want. Now, whenever you select text in any program, you can head to the Services menu (from the app's name in your menu bar) and click "Make New AppleScript". This will open up AppleScript Editor and send your selected text straight to it, ready to be edited and saved. Sure, copying and pasting isn't all that bad, but this makes sending code from the web to your script editor super fast and convenient, which is great if you do it often.
Create new AppleScript document Service System [Mac OS X Hints]