Woohooo!!! Gmail has finally got IMAP support:

Gmail Gets IMAP

I read about this earlier today and couldn't wait to give it a go. This is one of the big features I've been waiting for.

Well, so far so good. Your "Labels" appear a folders and it seems to function as you would expect a normal IMAP server to.

I'll have to give it a while to see how good it is, but so far so good.