Hangouts are the new video chat.

Google has made hangouts the default for video chat within your gmail.  If you haven't had a chance to connect with someone in a video chat within gmail lately, you'll notice that the video chat button is now the hangout symbol.  

The great thing about this is now you can invite others into your meeting and even share your desktop or any of your google documents.  

As predicted, it's being adopted globally.  And the best part, it's free.