I'd rooted my Kindle Fire and put Swype on there, and use it on my Evo (work phone) and on Incredible. So I'd prefer to have the same tool on all devices.
Two similar products that reportedly DO work with Nexus:
- TouchPal Keyboard (free)
- SlideIT ($5.99)
Both are in the Android Marketplace
Somewhere I think I've got the apk for ShapeWriter as well, and I used to like that one, so could be worth a test.