I'm really hoping for both or either of these very soon. My gf just went to Spain for 6 weeks so I'd love to be able to video chat with her away from my comp.
I wonder who the first will be to bring video chat app to the appstore...?
I'm a developer, and I can tell you that developers have raw access to the camera data. It's not the situation that used to be where when you wanted a picture, you had to ask the system to take one for you and you're returned the picture. This time we get the data directly from the hardware.
Skype could definately add video calling into their application, but they wouldn't be able to add it to the phone app like FaceTime has been. Whether Apple would allow that over 3G is another matter though. I'm guessing the answer would be 'no' and Skype would be forced to do it over Wifi.