Hellos there
Just sharing the wonderful news that as of around the start of this month you can now have video-chat over Skype!
All you need is a webcam, Skype and this handy little free plugin:
http://www.video4skype.com/
Then once its installed and running, when you start a conversation with anyone it will tell you if they also have the plugin - if they do you can request video as well, if not then you can invite them to use it also.
Only drawback atm is that you can only have a single video link at any one time. However, if theres only one other person in a conference with video4skype, then you can video to them and keep talking with everyone else as well!
Bingo.