swiping not tapping

I just saw these demo videos for Swype -- an interesting typing alternative on touchscreen phones (there's an android beta) ..  it's exactly what my fingers keep wanting to do on my iPhone. Hope it will make its way there soon.

When you have a highly sensitive touch screen.. this kind of input methodology is a lot more fluid than tapping -- having said that, their videos, even the ones demonstrating speed don't seem to allow faster input than accurate typing would.  Perhaps there's a more ideal swiping keyboard layout than QWERTY that would make a very significant improvement to input speed -- but require a higher learning curve.