For a more Sense like UI you can replace the Text icon when you long press your finger.
This is what it looks like:
I have changed the following files in framework-res.apk
text_select_handle_left.png
text_select_handle_middle.png
text_select_handle_right.png
with the Png below. The left and right are a bit off, but the mid one is spot on and looks really nice. Could be a little bigger though. Consider adding it.
(I took it from an HTC explorer ROM, the HDPI version of it looks way too big)
I added it but maybe try to find the bigger one, and send me it