From the Changelog:
01.02.2005 Skype for Mac OS X 1.0.0.0
▪ feature: Preferred audio devices remembered after unplug and plugging back
▪ change: alert panel shown when trying to place a SkypeOut call without having enough credit
▪ bugfix: displayname shown in call list also for SkypeOut contacts
Getting better and better, audio is now working very well also on low-end Macs.
Still on my whish list: iTunes audio mute when accepting an incoming call, exactly the same way as iChat already does.
I wonder if this has been simply overlooked or there are technical difficulties to add this feature..