bruce, you're correct. thats all you can do.
its IS annoying that when you need a VP, usually the worst thing to do is make a new one - because you have to go through it to delete all the "default" crap (banner, standard menu, etc.) thats in there.
If you copy another one, then at least you still have your look and feel in the menu system that you've done.
In your case, the way you do MyVPs and have many layouts, you're kinda SOL.
If I absolutely HAD TO, I would export/edit/import (as hp mentioned).
I think one thing that some devs don't realize... lets say you copy your Admin VP to a new VP for a new function in your app. In my case, I'd be tempted to change visibility on some content panels "just in case" I want to use something from them - since, you can't get them back via copy/paste. Even though you make them invisible, they still get processed and can generate run time errors in the server/tomcat output. And, I believe (unless this has been changed) that you can see hints of each content panel/tab in Aware's <DIV> tags when inspecting the DOM. Even though you may put 1=0 in Visibilty/Applicability of a content panel, Aware doesn't really know thats a "constant", so it doesn't really know if a condition will occur where it will pop into visibility, so the Panel is out there "underneath" the visible panels. Which means its carrying bloat and code for something you'll NEVER use - its only there cause you duplicated a VP and turned Visibility OFF for convenience.