News update - In compensation for this outage, Skype gave me $1 in online credit, and a 7-day extension to my subscription.

This does not seem generous, but you have to remember that they are offering this compensation to millions of users around the world, so it is costing them dearly. Their profit for the first six months of 2010 was only $13 million on revenues of $460 million.

Skype have posted additional information about the cause of the outage on their blog.