It's not as kosher as it could be and requires a jailbroken iPhone capable of running third party applications, but a Chinese developer has just released an early version of its handwriting recognition software the for iPhone, HWPen, which can recognize both Latin and Chinese alphabets, can be installed through the Installer.app program. The program can then take over the standard keyboard at the touch of a button.

In order to install the software, open Installer.app, go to "Sources", click on "Edit" and "Add" the following new source: http://iphonecake.com/src/new

From there, refresh the sources and look for the HWPen program in the iPhoneCake packages category.

Install the software, restart your iPhone and you're off to the races.

The software is still in beta and sports errors such as being unable to work correctly in landscape mode and failing to appear in the Mail.app program.

Still, it's a start and if you've had a chance to test out the program, let us know how it goes in the comments or forums.

ModMyiFone