Unwired VoIP is due in 2005 down in Australia.
While some form of PSTN termination is needed, what everyone has to realize is that just like mobile to mobile minutes being free in all kinds of deals globally on the same carrier (though I used to get free T-Mobile to Cingular for a while) VoIP to VoIP minutes on the same carrier, or via networks powered by technology that keeps it on net will mean one more chunk of time being taken away from the RBOCs and the PTTs.
This is good news for Cisco who really only wants to sell more routers at the end of the day, and for all the IP carriers, data center operators and VoIP players.