How much is skype being snooped?

hawkeesk8 writes: In Billing World's latest weekly e-Newsletter,, Dr. Jerry Lucas, founder of the World Lawful Intercept Conference, states in a column about CALEA, the United States controversial wire tapping law, "Outside of the NSA, most law enforcement offices have given up trying to decrypt Skype. But it is still possible to determine who called whom via Skype. Besides, even if someone is using Skype, it can't be guaranteed that someone else besides the person they are talking to isn't listening, because there are clever ways to spoof the system and get the keys." The author of the newsletter also writes, "And lastly, although Skype service is free, it is also considered a telecom service, and most Western countries require telecoms to release encryption keys upon request." With Lucas responding, "My bet is e-Bay, who owns Skype, does just that." The deadline for implementing CALEA has passed which would suggest that all big telecom carriers in the U.S. have the ability to tap your conversation. In light of that and the controversial NSA wire tapping scandal, how secure do you feel using the regular telephone vs. Skype?