Skype peer-to-peer telephony app

According to this story, Skype has launched their peer-to-peer Internet telephony application. It supposedly combines excellent call quality with seamless configuration and an IM-like interface. Lots of folks are raving about it (try doing a search for “skype” here), but I haven’t been able to register yet. As atog says, be sure to read the EULA.
Update: John and I had our first Skype conversation a short while ago. Once I plugged my T40 directly into the DSL modem (bypassing ISA), it worked great– no setup or configuration required. Audio quality was good, although I had better reports from John when I moved across the room and continued speaking. I also talked to the world-famous and internationally known Martin Tuip, and everything worked just as well. I’ve queried the boffins to see if they know why ISA’s blocking Skype traffic, but once I get that fixed I expect to be using it quite a bit.
Update: Skype should work with the way I have ISA configured, but it doesn’t. Mailing Skype support, unsurprisingly, has gotten me nowhere. For a free app with 240,000+ users, I wouldn’t expect a large support budget. So, plan B is to break out my old Linksys box and use it to front-end my laptop instead of ISA.