Swype is my latest Droid toy that I love.
It's cut my texting time in half. The word recognition is crazy cool and good. Auto spaces after each word.
I also enjoy the voice text of handcent, but swype gives me another option when I'm somewhere that I don't want to speak text.
How To Install The Swype Keyboard For Your Motorola Droid | Cell Phone How To, Cell Phone Reviews, New Cell Phones