Is Email the new Snail Mail?

In Korea email use has been on the decline since 2004, in the US email amoung teens and young adults is down 8%. The reason? Children are comparing email to instant messenger and calling it 'snail email'.

Over the past two years, email has been increasingly bypassed in favor of simpler forms of communication. According to Alex Iskold "The increasing speed of our lives and global connectivity reduces the need for lengthy emails. If we're in touch more often, then we reveal less every time we talk". Shorter, more frequent exchanges are replacing the lengthier communication of the past. "The rise of services such as Twitter and in-house company wikis or databases (such as BaseCamp) means that businesses are not only looking for easier, more accessible means of communication, but also are looking to embrace web 2.0 technology as a means to better position themselves to succeed in a rapidly changing business environment". Iskold admits that email isn't going anywhere soon, but insists that its "days of unquestioned dominance are over". I know personally Instant Messenger plays an important role in taming email, but it still feel like if this is going to happen it's going to be years before we see signficant shifts. What are your thoughts?