Apple launched it’s iPhone App Store this morning, a full 24 hours ahead of the release of the new iPhone 3G.

What’s more, Apple has opened the door to third party software with a software developers kit. There is sure to be much competition among developers to come up with better and more popular applications, which will be available to consumers online through Apple’s iPhone App store.

Sources report that 25% or the first 500 applications will be free, and about a third or so are expected to be games (good news for lucky commuters, kids, and kids at heart everywhere). Of the commercial applications, about 90% are expected to be $9.99 or less (more good news for those on a budget!).

Kleiner Perkins already has a $100 million “iFund” for developing related applications, and there are at least two other major VC-backed start ups already focused on developing new software for the iPhone, leveraging this wonder-phone to be a major platform competing not just with other phones or even other hand-held devices….but with the most popular computing platforms of any kind, in any physical form factor.

It will be interesting indeed to see what comes out of this new platform.

Hopefully we will see some fun applications, but more importantly, we could see some amazing utilitarian applications spring up for people in all walks of life.

Imagine how much more effective your doctor’s visit could be if they were well equipped with this mini-computer, filled to the brim with resources for diagnostic work, treatment plans and helpful information to help patients more efficiently. With most doctors running on barely fifteen minutes per patient (if you’re lucky and your doctor is patient!), this could be a real time and even life saver for many.