Just giving it a try now, having been using Swype for a week or two. Although I'm very impressed with Swype, I can't get the hang of some of the more advanced moves (involving punctuation, etc) so end up typing those individually. Therefore, that's not such an issue.
I'm finding that the basic tracing action on Flex T9 is actually better than Swype... not sure if that's because it just happens to be better calibrated to my movements or because the keyboard shape is a little clearer. The handwriting recognition thing is good, too (as good as the Sony Ericsson P900 I had years ago) but it's a bit disconcerting how it waits until you've finished the word before displaying it!