I can hear it now, when users log on to AOL, they won't just hear, "You've Got Mail" they will also hear "You've Got Messages." That's because AOL is in need of someone to manage their VoIP efforts as it seems they are getting ready to move into the VoIP space in 2005. They certainly have some assets to play with, so it's rather interesting that they posted a help wanted on the Industry Standard's job board.
1. Time Warner Cable
2. Relationhip with MCI, Level3, Verio for data traffic
3. Millions of customers
4. ICQ, AIM both already do voice chat
5. Millions and Millions of Customers
6. They have been in the telephone business before and made money on it
My guess is they will outsource a lot of the "pipe" and "termination" and leverage their assets, bandwidth deals and customer traffic to offer a rediculously low cost service that somehow works with their walled garden approach.