OK, my excitement for the 4350 is back up a bit as I have found some more tips and tricks that work with the keyboard that now address 95% of my concerns.

You can press the blue FN key and then move the navigational pad left, right, up, or down to select text. You then press the menu (stylus tap-and-hold) key to cut, copy, paste, clear, recognize, or select alternates.

I also found that a press and hold of the center button on the navigational pad will act as a stylus tap-and-hold in several cases.