I’ve had the opportunity to toy around with an LG Optimus Quantum these last few days and while my general overall impression of Windows Phone 7 is mostly positive, there are some missing pieces that make for an incomplete package. There’s no cut and paste. There are no custom ringtones. There’s no real multi-tasking. An update rumored for January addresses all of that.

According to Chevron WP7 unlock guy Chris Walsh, the “massive” update will bring not only custom ringers and copy/paste, but also Bing turn-by-turn directions and some form of multi-tasking. These features aren’t exactly fancy, but they really help to make for a more complete package.

Remember that Windows Phone 7 is relatively new to the smartphone sphere, as far as platforms go, and that it took iOS and Android far more time before the respective smartphone operating systems felt mature. Yes, this is just a rumor for now, but if Microsoft is pushing out updates at this kind of frequency, we can’t even begin to imagine what they’d have in store for us by this time next year.

Can Windows Phone 7 really take Microsoft out of the Windows Mobile basement? Time will tell, but this shows promise. [Mobile Burn]