Yahoo! Messenger... Friends are an instant away on Yahoo! Messenger for the iPhone Yahoo! Messenger for the iPhone allows you to IM friends and family right from your iPhone wherever you are.
Connect with all your friends: Instant message with your Yahoo!
Show off and Stay in control: Show yourself as available or busy, go invisible, or show off your status and let your friends know what you're up to.
Share away: Share photos, emoticons and links, right from your iPhone.
A nice app if you are a fan of Yahoo and its services. To my mind message chat and video chat are quite enough for a messenger. I use such apps to communicate, not to watch TV. The thing that seems to be useful is the connection to mail.
No Group Audio Chat.