What you are looking for exists from a couple of other US carriers, notably T-Mobile and Cincinnati Bell, but it is NOT available from at&t, and likely never will be.
As it is presently constructed—despite its 802.11 capabilities—the iPhone could not participate in such services, because it is not a
UMA—or, unlicensed mobile access—capable device. Only a very few mobile handsets are. In addition, it requires carrier routing of wireless calls over IP, and at&t appears to have no interest at all in this technology. Support for UMA, now referred to in the industry as GAN—or, generic access network—technology, has been slow and stumbling at best, as many carriers have sought to protect their installed set of services from encroachment by others using GAN as an access method.
Your DSL provider may offer a VOIP option, but is again typically not interested in diverting long distance call revenues to other parties. Unlike cable and wireless providers, however, incumbent telephone companies are required to allow qualified competitive carriers to lease segments of a network to provide competitive services.
IF—and that is a big IF—you could find a VoIP provider with an iPhone client that offered services on your DLS provider's network with the consent of that provider, it is possible that you could make VoIP calls from your home via an 802.11 link only when you were within range of your home base station. This too seems unlikely, however, given the business and politics of carrier provisioning. And, VoIP is not UMA/GAN technology, where calls are handed off seamlessly to and from carrier and IP networks.
T-Mobile's HotSpot™ @Home service and the ability to tether on demand is so important to me, that I will never switch carriers, nor use a device like the iPhone which cannot provide such services.