SlideIt isn't new. It's been around for several years and has been available on the Android platform since at least last fall. It has been discussed extensively on the "app" board. It's a competitor to Swype.
I like SlideIt a bit better than SwiftKey, but it's close and depends upon personal preference. The paid for version is much better than the free app, which expires after a month or so anyway, I believe. At the moment I'm back to Swype, however, although I have the other two as backups just in case Swype pulls the plug as they have before.