From the other thread:
Yes we do. You can initiate FaceTime during a call, or independent of a call through your contacts list.
http://www.apple.com/iphone/features/facetime.html
Lets say you want to start a video call with your best friend. Just find her entry in your Contacts and tap the FaceTime button. Or maybe youre already on a voice call with her and you want to switch to video. Just tap the FaceTime button on the Phone screen.
JR, thank you for your service.
Signs are pointing to being able to start a FaceTime chat through wifi only, independent of cellular service, but we can't be 100% sure until the phone comes out.