I'm surprised no one has mentioned how this feature was implemented in the Palm Pre/Pixi a few years ago. That was one of my favorite little things about WebOS.

I'm surprised no one has mentioned how this feature was implemented in the Palm Pre/Pixi a few years ago. That was one of my favorite little things about WebOS. When editing text, you held down the Orange key and then drag your finger anywhere on the screen and the cursor followed. And to select text, you did the same thing with the Shift key instead.