I didn't like Swype either but I love SlideIT!!!!
I used Swype for a while because I didn't want to pay for SlideIt (I don't know the current rate, but at that time it cost about $8.00, which struck me as high for a keyboard). However, I finally got fed up with expiring betas and such with Swype, gritted my teeth and paid for SlideIt, and used it pretty happily for several months.
Swype claims to have fixed the problems with staying up-to-date with their betas now, so I've recently switched back, and I have to say that I like the current version better than SlideIt. One thing that's new in the current version that's a real winner IMHO is how it handles retroactive correction: if you are typing along and notice an incorrect word a couple of lines earlier in your text, all you have to do to correct it is to double-tap it and pick the correct version out of the suggestion window -- and then the cursor goes back where it was! It doesn't leave the cursor at the corrected word, as SlideIt does, which really makes things much faster and more convenient. I also like having the symbols available via press-and-hold instead of having to switch to an alternate keypad, as you have to do in SlideIt. I did like the ability to define abbreviations in SlideIt, though, which you can't do in Swype.
I never noticed a difference in recognition accuracy between Swype and SlideIt; they seemed equivalent in that area, in my experience.
I also like it because unlike Swype, I can use SlideIt in portrait mode which makes the phone easier to hold.
Huh? Why did you have to use Swype in landscape mode? It works perfectly fine in portrait mode, completely equivalent to SlideIt, as far as I can tell.