If you don't want to sign up for a subscription, Skype Credit lets you pay as you go, charging 2.3 cents per minute. Obviously the subscriptions are a better deal, but it's nice to have another option, especially if you want to test if the service is right for you and your friends.
The other main reason to use Skype is for free video calls and the feature works nicely. I was able to initiate a video call with a friend, and even could receive a regular phone call without losing the Skype video call (a problem I had had in previous versions). I could switch cameras (something the Android app cannot do) and, a new feature called video messages let me record a quick video and send it to any recipient. I'm happy to see the video features finally got an upgrade, and I can see how the video messages feature could be both fun and useful.
I found only one missing feature during my testing of the iOS version of the app that is available on both Android and Windows Phone. When using Messages, you are only able to send messages to one other user; you cannot send a message to a group (something you can do easily in the included Messages app for iOS). But using an Android or Windows phone, we were able to start a group chat with my iPhone, and I was able to participate -- I just couldn't initiate one myself. This is a feature I complained about in a version released late in 2012, but it's still not available for iOS at the time of this review.
Even though it is lacking group chat features, for sending messages, video, video messages, and voice calls, the Skype app has definitely improved over previous versions. The new look of the app brings it up to speed with the design of iOS 7 and fixes annoying bugs I found in earlier versions.