Hint for editing manuscripts on paper...

If you're left handed, you're already golden. I like to use the back of the previous sheet to mark in my edits so I can draw arrows and such and have it all right there. For early drafts I use a 3-ring binder (and switch to binder rings in the low-revision final edits). As a right-handed individual, writing on the left sheet is difficult, even on a desk. I punch the paper on the right side instead of the left and that leaves me the open page on the right where my favored hand is located. It takes a while to get used to turning pages from left to right, but I can edit that way even in bed. Get the good D-Ring binders for this - trust me, you'll appreciate it.

On Edit: I don't buy 3-hole punch paper. I've got a heavy-duty big-armed puncher that does 20 or so sheets at a time. It was well worth the expense when you consider the difference in cost to get pre-punched paper.