While it is obviously a welcome option on generic Android, I have to say that if it doesn't understand cursive, it's not much more than a gimmick. (I don't know if it does, but it seems not from the examples show)
I have terrible handwriting, but my last 2 tablets have had styli, and I have used handwriting recognition on them to great effect when the situation called for it. The first was a Tegra Note, and my current one is the Shield Tablet. Writing on these is a breeze, and recognition is reasonably accurate even with my awful handwriting. I can't remember what combination of apps etc. I used, but I was very impressed.
OTOH the on screen keyboard is much quicker in most situations. The only problem is it needs you to look at the screen. Handwriting recognition allowed me to take notes during presentations, and they were accurate enough that I could make them out when I reread them (unlike a lot of my handwritten notes on paper lol).