If you have several KBs installed and active (which you do in menu | settings | language and keyboards), .. the means to switch between them is simple... simply "long press" on an input area, and in the dialog that appears, select "Input Method", then choose the keyboard you want to use as the default until you decide to use another.
Try Swype Beta (free if you visit their website and register) and Hacker's Keyboard (free from the market) - hey - it's got cursor keys!!!).
BTW, you will find the "long press" gesture to be useful in other contexts.