I've got this running on my Droid 1, using SPRecovery with the zip from droid-life. This... needs work, IMO.
Text selection is horrible, and when you hold-slide to make a selection (accents, numbers, etc) there comes even more issues. The time allowed for hold-sliding is WAY too short, and you need to make your moves super fast. Also, hold-sliding doesn't work like it did before. Now you hold-slide under where you're aiming, which makes it easier to see what you're doing, but not it's not intuitive at all, and totally different from how it worked before (hold-slide to the accent/# directly) which leads to more confusion. I also have the word replacement bug, typing "spat", typing a few more words, and then trying to change "spat" to "spit" results in "spspitat"
I appreciate the extra speed and features, but I sure hope these issues get fixed, or I'm going to have to try to figure out a way to roll the keyboard back when Gingerbread rolls around for the D1.