Skype on the iTouch?

The owner of a certified Apple retail store told me it was possible to put Skype on the iTouch and use it as a phone... Is this possible?

And... can anyone explain the rates for Skype?

Thanks!

I can't comment on its possibility with the iPod Touch, but Skype works thusly: You can either get an unlimited service for pretty cheap monthly rates, or you can get ridiculously cheap international pay-as-you-go service, generally around 2-3 cents a minute. You can get a phone number for anywhere you want, so say if you live in New York but your relatives live in Seattle, you could get a Seattle number so they could call you "locally."

Also, if you're calling another Skype member instead of a phone number, it's free. Period.