I have a love/hate relationship with third-party keyboards. On the one hand, they theoretically provide a better way to input text on your iOS device. On the other, I've found them to actually make me waste more time than I would using the stock keyboard. But I'm not giving up yet on keyboards, especially on Swype, which has been my favorite one so far.
Normally priced at $0.99, Swype is currently available for free as Apple's App of the Week in the App Store for a limited time. If you aren't familiar with Swype, check out Lory's first look at the third-party keyboard. Since she published it, the app has also been updated with support for more languages and improved iPad layout, making it an even more solid option.