Yes, we have those little handle things. They're a pain. What RIM should do is reduce the drag speed by 50%. Currently it's a 1:1 speed, the handle moves right under your finger. If they reduced that to 2:1, you could drag along the screen and the handle would move more slowly than your finger, enabling more precise text selection.
It's also annoying selecting text in drop down lists like the one on Google. Start typing and it predicts searches. Try to tap one of the predicted results and the PlayBook gives you the text handles.
These methods need a serious second look by RIM if they're doing away with the trackpad.
