No, we're not pulling your leg--the LG CU500v has indeed launched after a premature announcement last week, complete with AT&T branding all over it. As you'll recall, this update to the LG CU500 incorporates something new for the U.S. cell phone market, namely video calling via Video Share. The video is transmitted only one way for now, but those with compatible handsets can switch the direction of the video. Also, the AT&T branding is not only visible from the exterior of the phone--several applications have also been rebranded. For example, Cingular Mail is now AT&T Mail, and so forth. Aside from the video and the AT&T rebranding, it's the same as the LG CU500--1.3-megapixel camera, quadband support, a microSD card slot, and more. You can get the LG CU500v for $29.99 after you sign a two-year contract and get a hefty discount and rebate.
Update: We've just received word that while the LG CU500v handset was launched today, the Video Share service itself won't be launching until "later this summer," which probably means the date will be different depending on where you are in the country. Stay tuned for more information on the Video Share roll out.