Developers have already started digging into the iPhone OS 3.2 code now that Apple has released the latest SDK in connection with the iPad. There are several hints that increased functionality is on the way in future iterations of the iPhone.
Some of the highlights in the code include ways to accept and decline a video conference, switch a video feed from camera to camera (front and back?), and run a video call in full screen mode or in a window. Could it be that a front-facing camera is on its way to the 4G iPhone for video calling?