Quite possibly. There was a promising rumor a while back that Apple was working on Video recording for the iPhone. (Doesn't take any extra hardware to do so)
But remember, the keyword is rumor.
As far as MMS messages? Doubt it, but if you jailbreak your iPhone, there is an app that will let you do so. Apple will probably not allow any MMS apps. BUT you never know, they might start offering it!
Not to get off topic, but "the next iPhone" which will have 3G, might offer video recording, and video conferencing. It's anyones game..