I found a version of Swype that works on the Ally. I tried to attach it but it failed so I'll just link to the page I found it below. The only catch is that if you rotate the phone with the keyboard open you'll get an error about screensize. Swype keyboard appears to work great using portrait orientation. Just found this on Google so I'm not responsible for it. Try it out and see what you think. Post results here for others.
swype beta apk file for those who missed it | Droid Life: A Motorola Droid Blog
swype beta apk file for those who missed it | Droid Life: A Motorola Droid Blog