SwipeSelection, a tweak that brings new text editing options to the iPad and iPhone, is now available in Cydia.
A new way to edit text on the iPad (and iPhone/iPod) using gestures on the keyboard to move the cursor and select text. Based on the concept video by @danielchooper
(note: it fully supports iOS 5.0+ and works down to iOS 4.0, although on 4.0 detecting if the shift key is down doesn't work so you can only move the cursor not select text)
You can get SwipeSelection by Kyle Howells free from the Big Boss Cydia repository.