Looks like you have this pretty much going already - but tell you what I've noticed with Hangouts vs Skype - Hangouts seems to have better videochat quality than Skype and it works better on phones than skype too.

>Hi,
>
>Is Google Hangouts pretty much like Skype? where you can have a video conference with a person?
>
>Do you install Hangout as a separate application or you run it from within Chrome?
>
>Are there any possible security issues with Hangouts?
>
>TIA