I use VoIP for almost everything (buy wholesale minutes and run my own asterisk server). It's nice, it's flexible, it's the best phone related thing to ever happen in my opinion, but you do need to know about the limitations. Previous posts have covered most of those.. The only thing I notice on a day-to-day basis is that quality suffers during big data transfers. So don't expect to be having a nice clean business conversation while downloading lots of big files...
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