The moment Swype Beta 3.26 is installed, the separate Swype installer app will be removed from the handset, so that the app can go ahead and update itself automatically whenever there are newer versions released down the road. This update will be done via a prior notification – so it will not overwrite the old version without your permission, and you can still retain your custom settings and dictionary words to boot.
Those who are interested can download Swype Beta 3.26 from beta.swype.com, where it will play nice with Android 2.0 Eclair or above. There is another condition to it though – those smartphones should not have Swype pre-installed from the manufacturer, and screens with WQVGA (432 x 240 pixels) resolution are no longer supported as well.