I just downloaded it. This is pretty cool :)
Been on the App store for over 1 year. Through the iPhone 3GS and now iPhone 4. Love it, and I always check for updates in the store. My Apps keep getting better and better. Love it!
Tried it, loved it. Downloaded a free game to test and there it was on the Dock. Apparently it even recognized some existing applications installed the old-fashioned way.
I do worry about the overall idea of heavily-controlled digital distribution. Technically, Apple could yank any app just like Amazon yanked peoples’ copies of a book.