Has anyone here read this?

[szlamany]

When in doubt - go to snopes...

http://www.snopes.com/language/acronyms/cop.asp

And from this http://www.thefreedictionary.com/cop

cop3
n
Brit slang (usually used with a negative) worth or value that work is not much cop
[n use of cop1 (in the sense: to catch, hence something caught, something of value)]

All comes back to what Hack said - cop a feel it to take something (a feel that is) and "not much cop" is pretty much not worth cop'ing a feel from...