How about a "duplicate file" option in file context menu that would create a copy of selected file? Sometimes I need to create a new file based on an existing one and to do this I have to open shell menu of the file, select copy and then open shell menu of the directory and select paste.
Using CTRL+right click makes the whole process litte easier, but it's still more than selecting an option from file context menu (:

I second this suggestion. Dreamveawer allows you to duplicate a file using Ctrl+D. It is an option I use quite often.