It's still obviously far slower than an actual fullsize keyboard , but for a smaller form size hardware keyboard (such a phone), I've actually found Swype to be faster. It completely blows the on screen keyboard out of the water, but I was never that fast at that. I was a major fan of hardware keyboards before swype (in fact, it's why I got a Droid instead of another Android phone), but I'm beginning to find myself becoming faster on Swype than an actual phone keyboard, and that's even with a 2+ year headstart of using hardware keyboards.

However, this all depends on the size of the tablet. If it was laptop sized (with Fn keys to allow for slightly smaller size even), I'd probably take the keyboard over Swype, but it would really depend on where I was typing. Swype is designed to be used one handed, and would be perfect for when you can't just set your tablet down. If the keyboard would be netbook sized, I might actually take Swype over it most all of the time.