I'm not happy about this news. While Skype can sometimes be incredibly stupid even across the last 4 versions, it has some of the best call quality for VOIP that I've found. And it's about to be hi-jacked by MS so they can use it to support 360 gamers and Kinnect.
Nothing could really change, but somehow, I have a feeling that's not the case. At the very least, I expect MS to start requiring payments for premium skype service, and if I see my call quality dropping, I'm heading back to Ventrillo.