Does the iPhone have iChat or any other IM client?
No, which in my opinion, is the biggest shortcoming of the iPhone. My guess is that AT&T makes so much money from SMS messages that part of the deal with Apple was that they couldn’t put an IM client on the iPhone. The SMS application has the feel of a chat application, and seems designed to encourage sending messages and making money for AT&T. I’m hoping that this agreement will expire eventually, and that iChat will be ported. IM on the iPhone makes a huge amount of sense, and seems painfully obvious, but since the data plan is included in the monthly cost of the iPhone while SMS messages cost extra, I’m not expecting it anytime soon.