The Android L keyboard is a good upgrade over the current stock Google keyboard, and serves as a model for how applications built for the newest version of Google’s operating system should look. I have used it as my primary keyboard for about a week, and found it very fast to type with, accurate, and aesthetically pleasing. Gesture typing has even merited a trial, though don’t expect too much of it if you use lots of names or a sophisticated vocabulary.
If you are a diehard user of a specific third-party keyboard, the Android L keyboard is unlikely to make you switch right away. Also, switching is much easier now—just hold down the spacebar to select a different keyboard. This makes it easy to try this out while still keeping your preferred keyboard at the ready.