Great sadness: neither Cloneable/clone nor a constructor are great solutions: I DON'T WANT TO KNOW THE IMPLEMENTING CLASS!!! (e.g. - I have a Map, which I want copied, using the same hidden MumbleMap implementation) I just want to make a copy, if doing so is supported. But, alas, Cloneable doesn't have the clone method on it, so there is nothing to which you can safely type-cast on which to invoke clone().
Whatever the best "copy object" library out there is, Oracle should make it a standard component of the next Java release (unless it already is, hidden somewhere).
Of course, if more of the library (e.g. - Collections) were immutable, this "copy" task would just go away. But then we would start designing Java programs with things like "class invariants" rather than the verdammt "bean" pattern (make a broken object and mutate until good [enough]).