Reminds me of behavior of (mouse- or touchpad-driven) Acme editor: http://shkspr.mobi/blog/2013/02/samsung-copy-paste-bug-aka-n...
If you jailbreak you can have this on the iPad + iPhone with "SwipeSelection". It is great.
Not sure whether I'd prefer to have this or the swipe-to-enter-text that I've got on my stock(ish) JB keyboard. I suppose two fingers to scroll might be a nice compromise :).
Just get a keyboard? (As in are there any tablets with a slide out keyboard. Like on the HTC Desire-Z, or Motorolla Photon Q)
Whoa, this is such a simple, intuitive and straight-forward mechanic, and nobody (i.e. manufacturers) thought about it before!?
I very much hate selection and cursor handling in all platforms. This, or something similar, should definitely become a standard way of moving around text on virtual keyboards.