WalkieTalkie is a Voip app for the iPhone and iPod Touch that allows you to make calls without relying on a third party server to host it. There's no cost to using the Voip service of this app whatsoever considering the only server it touches is the free locator server it offers.
To use this app, you'll need to simply start up the program and create a username. After that, you'll just have to find out the username of the individual you want to call. Type that into the main screen and then press the call button.
If you've entered in the right username and the person is actually online then you'll be connected to them.
If you're interested in seeing how the connection is going, there's a display box that will show you all the information about the connection that you've made. Considering that it doesn't bounce off a third party server, the latency of the call is generally low. This makes for a really solid direct calling app. You can even get a version of the software for your computer as well.
This is a pretty solid app overall making it well worth paying for. If you use Voip at all and are capable of convince those you call through Voip to use a different service, then this is definitely the way to go.