The iPhone App Store is now available in both the iPhone 2.0 and iTunes. Watch this space for updates and videos as we walk through it, liveblog style. Updated after the jump.
The App Store works great on the iPhone 2.0. Fast. Beautiful interface. Simple. It's localised, so you will require an account from the iTunes country you are accessing from (my spanish iTunes account didn't allow me to download things from the App Store in the UK.
I'm installing the AIM client now. Doing video. Keep checking back.
The installation was flawless. The icon appears in your iPhone screen instantly and you can see a progress mini-bar showing how much is left. Over wireless, AIM for iPhone installed in a few seconds. Another video coming up now.