Robert Hamilton at Mobile Entropy makes some good points about the future of MMS:

Those who rush headlong towards picture content as the be all and end all of MMS will miss a trick, in exactly the same way as those who thought that streaming video would be the future of the Web have missed a trick (how many minutes, not hours, have you spent watching streaming video this month?!).

It’s about creativity, not just lobbing a picture in the message and charging extra for it.