1. An Image Transceiving Telephone with Integrated Digital Camera (ITTDC) for simultaneous transmission and receiving (transceiving) of real-time audio and non-real time image through a Public Switched Telephone Network (PSTN), the ITTDC comprising: an integrated telephone front end further comprising: an audio input means for converting an input audio from a user of said ITTDC into an uncompressed digital inbound audio data stream and an audio playback means for converting said uncompressed digital receiving audio data stream into a corresponding audible sound for the user of said ITTDC; an audio CODEC (compression and decompression) for concurrently compressing said uncompressed digital inbound audio data stream into a compressed digital outbound audio data stream and concurrently decompressing a compressed digital inbound audio data stream into an uncompressed digital receiving audio data stream; an image input means for capturing and converting an image into an uncompressed digital inbound image data frame; an image CODEC for concurrently compressing said uncompressed digital inbound image data frame into a compressed digital outbound image data frame and concurrently decompressing a compressed digital inbound image data frame into an uncompressed digital receiving image data frame; an image display means for converting said uncompressed digital receiving image data frame into a corresponding visible image display for the user of said ITTDC; a PSTN access means for concurrently converting a digital outbound data stream into a suitable analog signal waveform for reliable transmission through said PSTN and concurrently converting an analog inbound signal waveform from said PSTN into a corresponding digital inbound data stream; a local data read and write means for storing an embedded system control software with associated control data, permanent ITTDC operating parameters as well as temporarily or permanently storing said compressed digital outbound audio data stream, said compressed digital inbound audio data stream, said compressed digital outbound image data frame and said compressed digital inbound image data frame; an optional electronic interface means for communication with other electronic devices locally attached to the ITTDC; a user-control means for accepting user controls of the ITTDC directing its operations; and a system control means for interfacing with and further controlling said integrated telephone front end, said audio CODEC, said image input means, said image CODEC, said image display means, said PSTN access means, said local data read and write means, said optional electronic interface means and said user-control means to perform a plurality of desirable functions with respect to said simultaneous transmission and receiving (transceiving) of real-time audio and non-real time image.