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If you’ve been anxiously awaiting the arrival of the SlingPlayer Mobile app in the App Store, today there is good news and bad news, but mostly bad.

The good news is that the app has apparently finally been approved by Apple, and will hit the store sometime tonight or early tomorrow morning.

The bad news: it’s going to cost $29.99 and it got approved only after some major changes – the biggest being that it will only work over WiFi, not over 3G.  Apparently this was likely caused by either Apple or AT&T worrying about the potential bandwidth strain this app could cause.

Oh, and Engadget is not too impressed with the app itself either.

We’ve had a chance to play with the app, and it certainly gets the job done — we just wish it worked a little better. Even on WiFi, control feels laggy …

Check out Engadget’s post HERE for lots more detail, but this is not what Slingbox fans were hoping for I think …

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