Update: So this has been something which has been whispered for a while, but Pete Cashmore has discovered actual screen shots of MySpace Messenger. Even though the screen shots have been around for a while (as pointed out by eagle eyed readers), MySpace is now asking people to sign in and activate their messaging accounts. This is the first time I think Yahoo, MSN and AIM have some serious competition, and I predict that this will change the market share equation.
From the looks of it, it is a Windows only app developed by a third party developer, called .IM, a NY-based company. Since the new IM is based on Sonork platform, it is not hard to imagine that MySpace will integrate IM right into MySpace pages. MySpace money machine is now about to hit the second gear as this IM can support banner ads, and inline commerce.