I'll admit that Swype has improved the scene of on-screen text keyboards for me. However, there's more than enough times that I get frustrated at it and need a physical keyboard to type something up well. Maybe newer versions of Swype in better hardware makes the experience/adaptation/learning/whatever better, but as it stands on all the phones I've seen, there's just some situations where it royally fails.
Just sucks that one of Android's best features was that hardware manufacturers could include non-iPhone hardware features to allow for customer phone selection. However, with all manufacturers just replicating the "king" of the hill, it seems as though they're all in on iPhone cloning features. I can't blame them for doing what's best economically, but a big, big feature that made Android stand out is being left in the dust.