For those familiar withe Texas Hold'em Poker, the game carries the same basic structure with 5 community cards and 2 hole cards, but instead of traditional playing cards, you get dealt letters. Using the letters you have in your hand combined with the community cards, you try to form your highest scoring word. Like Hold'em, each round involves betting based on the strength of your hand or if you think you can just bluff someone off their hand. It's a nice concept and works out quite well.
The game is available for both the Palm Pre and iPhone/iPod Touch with the ability to play against others across platforms.
The developer video is being demoed on a Palm Pre, but the iPhone version plays the same:
Tournament game structure is said to be in the works as well as a Pro version that is meant to help support the developers. Self Aware has said that the free version remains fully featured:
The main thing, though, is that the game's free. Word Ace has ALL the content of Word Ace Pro EXCEPT In-App purchases, which are forbidden by Apple for free apps. WAP is for you if you want more chips, or if you simply want to help support the game's continued development! But if you don't want to pay, Word Ace (the free version) is a complete game, and you can play as much as you like.
Our forum thread has ongoing discussion with developer participation.
App Store Link: Word Ace, Free