Steve Jobs announced FaceTime, a video calling feature, will be arriving for the iPhone. It allows the use of the iPhone 4's front facing camera for face-to-face chatting or the rear facing one to let the other party view what you're seeing using an iChat-like interface. FaceTime can be used in portrait or landscape mode and starting a session is as easy as making a call. It streams video via Wi-Fi only, but that allows the video quality to be much higher. This is going to be one of Apple's newly created open standards, hopefully making it more popular down the road and go beyond iPhone-to-iPhone.