Absolutely love swype, and used it until google came out with their own.
Havent tried the new version in the play store, but in my past experience with it, swype was much better with "swyping" than the one that is built into the newest version of android. Its biggest downfall for me was that it was god awful if you had to actually peck anything. It would always assume your swyping if you peck two different sides of the keyboard.
Just bought this new version, hopefully its gotten a little better in that regard.
EDIT: After using for 10 mins.... My god I havent realized how bad google's swype is compared to this. There were just some words that were impossible to swype no matter how you did it. Using this swype, I could do it with my eyes closed.