Using Adobe Photoshop 7.0, if I want to use the lasso to circle
something on a photo, and then cut/paste something onto that photo,
what feature do I use to have it pasted everywhere EXCEPT what's in
the lasso highlighted area.  I want the highlighted area protected,
with the paste going over the entire photo except the highlight.

try select all, then hold the key to get the lasso with the minus sign
(shift is +, I think ctrl is -)  That way you select all but what you
subtract by drawing the deselect lasso around.  Hope this helps.

HI there,

With your Lasso Tool selected, draw a selection where you wish to
protect. Next, pres Ctrl-Shif-I to revert the selection. By reverting
the selection, all the areas inside the selection are protected. When
the revert command is executed, you will see a moving ant border
around the area and the entire image. (click link to see image)

http://img336.imageshack.us/my.php?image=10ql.jpg

Now you can paste or do whatever you like on that picture. See image

http://img123.imageshack.us/my.php?image=25ln.jpg