Rather than using one-finger, or two-thumb typing, what works far better for me is one-handed typing. As I wrote on my blog:
With practice, what's far faster is using one hand with 5 fingers to type - your one hand has far less distance to move to hit each key. I'm 1.5x as fast as was on my blackberry, and getting better.It's a style that's pretty much exclusive to the iPhone, and it works quite well for me.
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Mac OS X Hints
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