Disclaimer: I still haven’t tried Hangout, not enough people in my circles yet.
Skype has been great for conference calls and video calls but it’s nearly always been a hassle with more than 2 people. It’s analogous to the way in which phones work i.e great when only two people need to talk but confusing to set up if there are more.
Although it’s different, Hangout might obviate the need to use Skype video again. Having multiple people, with cameras, all in one ‘room’ and effectively with one-click sounds fantastic. Of course, I haven’t tried it yet but I can imagine not needing to use Skype video again.
Skype will still have it’s place (for now) since I find it useful to see who’s online and ask quick questions via IM. However, even that benefit might disappear in time.
I’m curious to know what other people think.
Edit: Some discussion now on Hacker News.