On Wednesday July 21st, 2010, Skype announced a minor update to their iPhone app (now version 2.0.1).
New features include:
1. Multitasking - Now you will be able to receive Skype calls while other apps are running or when the phone is locked. You call also access other apps while in a Skype call.
2. App's graphic support for iPhone 4's retina display.
3. Calls with high sound quality.
In May Skype has released a major update (version 2.0) which allowed users to make free Skype-Skype calls over 3G, a feature which was to be free until at least August 2010. But with the release of version 2.0.1, Skype has announced that they no longer plan to charge a subscription fee for calls made on 3G.
We may have to wait a bit longer for the video calling feature, since Skype has already pushed it on the "Fringe".
Multitasking requires iOS 4 and an iPhone 4, iPhone 3GS, or a third-generation iPod touch (32GB and 64GB models from late 2009).
Source - Skype.