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What To Expect From Facebook's 'Awesome' Announcement Today: Video Chat Via Skype Coming? (UPDATE)

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[UPDATE] Facebook announced a Skype-powered Video Calling product today, alongside a revamp of the Facebook Chat feature. Find out more here.

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[PREVIOUSLY]Mark Zuckerberg has promised that Facebook will "launch something awesome" today at 1 p.m. EST (10 a.m. PST). But what will it be?

The event invitations, sent out by Facebook, feature an illustration of what appear to be chat windows, so it's a good guess that the event will center around a new video chat feature.

Rumors suggest that Facebook has partnered with Skype to execute the new feature, which will compete with the new "Hangouts" video chat feature found on the newly launched Google+ social network. There are even whispers on the wind that Facebook could introduce group video chats, which Google+ also features.

Facebook is also said to have an iPad app in the works, as well as a killer photo-sharing app for iPhone.

And what about Facebook's secretive mobile platform? According to TechCrunch, the so-called Project Spartan will not be a part of today's lineup. Insiders reported to TechCrunch that the project won't be ready to unveil until July 17 and that an August 1 launch is likely.

Now that you know what to expect (and what not to expect), be sure to tune in to the event's live stream right here, starting at 1 p.m. EST.

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