If you haven't seen it yet, I suggest that you take a look at this concept video that made the rounds on the internet some months ago:
I would pay to have this in my phone. Only, money wouldn’t help since I own an iPhone, and a developer has simply no way to access an internal component like the phone keyboard.
Well, it only took a small part of an afternoon to implement a proof of concept of cursor-swiping in Firefox OS. And even if this swipe-selection implementation is only a prototype, it’s perfectly functional and I've already gotten used to its convenience. See a rough video I made here:
You can check out the code for it in Comoyo's Gaia branch on GitHub.
Disclaimer: This implementation is in the Gaia fork that I use and I have no idea of whether it will make it into the actual OS eventually, since there are obvious UX implications that might be uncomfortable for some.