It doesn't look final for a couple reasons: first, the word display isn't the same as was shown in the demo of it (embedded below), and also, Google has already tried pulling down links to the APK. Still, it's almost impossible to completely delete something from the Internet, so the links are still around.
There are two options: an easy to install APK, which won't work on a stock Android device (aka Nexus), but it will work if you're using a custom ROM like CyanogenMod or AOKP, or a device with a manufacturer overlay like a Galaxy S III, HTC One X, etc. The other option is a ZIP file for those of you on a rooted stock Android device, which can be flashed via ClockworkMod Recovery.
Remember, if you flash the ZIP, it will replace the stock app, so it's a good idea to make backups before flashing.
We've tried it out, and it does work pretty well. It takes a bit of getting used to because of the word prediction overlay, though. It's just odd to have words flashing at you as you're thinking of how to swipe to get the word you want. That option can be turned off in the settings menu if it gets to be too much.