BlackBerry Storm 9530

So I got the Storm today and I don't know if got a bad phone but the interface and responsiveness is horrible. There are a lot of delays and it's difficult to navigate through various websites. It's definitely not as nice and responsive as my friend's iPhone.

Anyway my biggest issue is typing emails. After I have typed a sentence or two, I sometimes need to go back and change a word. However I can't get it to go back to a specific word. There doesn't seem to be any arrow keys to go back (only backspace\delete key). Does anyone know what I'm doing wrong or how I can go back and change a word?

Thanks.