It does a lot more than that... I would get Google Voice (the one I've posted in here a couple of times already), set it up so that 2 of your myFaves numbers are the outgoing number (you'll get it after you set up Google Voice and make a call using it), and then your regular Google Voice number. It'll save you on minutes. As for SMS, it is its own thing. You can still receive SMS to the regular Messaging app, or you can receive it to Google Voice. They show up as different icons, and don't show up under the other app, meaning a GV SMS won't show up under Messaging, and vice versa. I hope that helps out. If you have any questions about GV, just shoot me a PM.