Well, almost. There is one drawback. You have to pay for all the calls you make, even the Skype-to-Skype connections which are normally free:
There is a catch, though. Unlike PC based calls, you'll need to pay even if calling another Skype user: IM+ places the free VoIP call as usual, but then calls you back on your iPhone at SkypeOut rates. Still, if you are making calls abroad, it'll be a lot cheaper, and the service is free while in beta testing.
Aside from having to pay for the Skype calls, this looks pretty cool. It also demonstrates that the iPhone, unlike most smartphones, is ready for desktop-style Web-based applications.
Have any of you figured out another way to use Skype on your iPhone? If so, let us know.