Two-way video calling is now possible on Android, and the chances are damned good that they're coming to the iPhone next month. But really, do you care?
Holding a phone up and talking at it and seeing the other person talking back is a neat trick, sure, but I can't imagine I'll use it much after trying it out a couple times. I mean, I barely talk on the phone normally anymore, instead relying on texts, emails and IMs to get messages to people. So a more convoluted way to make phone calls? Yeah, I'm not that interested. This seems like something they're offering because they can, not because it actually provides any real benefits.
How about you?