An independent website called Messenger Blog has posted what one of the site's authors says is an updated version of MSN Messenger with PC to phone capability.
It's been widely reported this capability will be offered via a partnership between Microsoft and MCI. I don't see an MCI logo in the screenshot, but that doesn't mean MSN Messenger couldn't be powered by MCI.
Interesting, especially considering that with MCI now being folded into Verizon, such a capability would not only be an out-and-out competitor to Verizon's PSTN (Public Switched Telephone Network) service, but to Verizon VoiceWing.
Seems like the emerging paradigm is the heck with the risk of cannibalizing your brand- just throw out as many flavors of Internet phone as you can and see what sticks.