Chris Adamson has posted a great summary of his presentation from the Voices That Matter: iPhone Developers Conference where he dives into the possibilities and perils of implementing in-app purchases in your iPhone applications.  These follow up nicely on his original post on the topic (An In-App Purchase Brain Dump).

These posts are the best posts I’ve seen yet on the subject, with real, nitty-gritty details about implementing I-AP.

Executive summary: 1 FTE for 1 month to convert an existing, fully operational app to one enabled for in-app purchases.