As one of the last two announcements for their fall media summit, Nintendo has announced the Wii Speak Channel for use with the Wii microphone (pictured, from E3 2008). According to Cammy Dunaway, up to four people can chat together, and the microphones will come with a coupon to download the channel.
Of course, this leads to a plethora of other questions, such as: release date, price (if not buying with the microphone), can a USB mic be substituted, what else can we do with the channel besides speak? We're not holding our breath waiting for answers anytime soon.