Check out SlideIT Keyboard in the App Store. It's about six dollars, and very similar to Swype.
I decided to purchase it after the trial; compared to Swype, it's a mixed bad.
GOOD:
More control over words that get added than Swype, and easier to remove unwanted entries.
BAD:
Get ??? errors far more often. Swype is simply amazing on my Droid X -- even a jagged scrawl that comes close to the letters often gets the right word. SlideIT just gives up, far more often.
I wish Swype was available, but I'll settle for SlideIT for now.