I can't stand Swype. It's great in theory, but in practice and no matter how much I've used it, I can't get past the way it predicts my words and gets them wrong half the time. Yes, it's fast, but I use far too much slang, and way too many abbreviations in my every day typing to constantly need to fiddle with selecting the proper word.
Instead, I've been using the HTC keyboard, which I love because I was already accustomed to having more characters on long-press from my WinMo days, and it returns that functionality to my hands. The only thing I wish it had was multitouch because I'm constantly skipping over letters when typing too quickly, but it would seem that multitouch + long-press options would be difficult to reconcile.