All the cool bloggers know that VOIP is the cheap way to go for home phone service. I had Lingo for a while and, though I didn't use it much, was very pleased with the quality of the service. I think VOIP is pretty cool, and it's probably going to become the new standard for the big telco companies to compete with (assuming, that is, that they aren't trying to sell it to you along with your cable and internet.)
VOIP is all over the place now with Skype, Lingo, Vonage, etc making big splashes. It's definitely a big savings for people who talk internationally a lot - and as more areas around the world get high-speed internet access, I think you'll see a big boom in people worldwide using the service. Also, given how many features most VOIP plans have, it's good for small businesses who don't want to pay for a custom solution from the telcos. Not too shabby.