Include the 'Paste in Front' and 'Paste in Back' features that are already in Illustrator.
Being able to paste in front or in back makes layout of overlapping objects a breeze. Everytime I have to cut and paste an object, I need to set the arrangement of the object. It becomes a pain when I have many objects on the same layer.
Philippe Maintigneux commented
It is not exactly what is asked for. As you say, Paste in Place is... Paste in Place, only. The is no choise given to paste in front or in back.
Alan Gilbertson commented
Paste in Front is already available, except that it's called Paste in Place. KBSC is Ctl/Cmd-Alt/Opt-Shift-V.