As promised last week, here it is: Starbucks Corp. (NASDAQ: SBUX) and the "breakfast pairings at an attractive price," a.k.a. value meals. For $3.95, customers can purchase either a 12-ounce (tall) latte with a coffee cake or oatmeal; or a tall coffee with a breakfast sandwich. What's more, the company is rolling out new (to some areas) "artisan" sandwiches with bacon and ham, no, let's let Starbucks describe it: a "flavorful bakery-style sandwich made with a parmesan egg frittata, smoked bacon slices, and Gouda cheese on a perfectly-baked hand-shaped artisan roll;" and "a delightful combination made with a parmesan egg frittata, three slices of Black Forest ham, and mild cheddar on a perfectly-baked hand-shaped artisan roll." The new menu options and pricing will be available March 3.

In the war for cheap eats, breakfast is about to become the front line. McDonald's Corporation (NYSE:MCD) is about to roll out a dollar menu for morning staples like the sausage muffin with cheese and a breakfast burrito with two hash browns. Burger King Holdings, Inc. (NYSE:BKC) won't be far behind and is expected to have 10 items for a dollar on its breakfast menu this spring. (No word, though, on when and whether these items will be available all day long.)

If you're a believer in fast food, believe that Wendy's International (NYSE:WEN), whose value menu is legendary for its variety, will be jumping on this bandwagon soon. Already the breakfast market seems to be the Mealtime to Be of 2007, what with Starbucks Corporation (NASDAQ:SBUX) hoping to complete its rollout of eggy cheesy breakfast sandwiches by mid-2007, and, according to the Motley Fool, the news that Yum Brands' (NYSE:YUM) Taco Bell is also exploring a breakfast menu.

Who will reign supreme? How will this effect the companies' respective bottom lines? Neither McDonald's nor Burger King breaks out revenue by mealtime or menu item, so it's hard to say what percentage breakfast is of the overall sales. It's equally hard to predict how this would affect profitability -- certainly, it could diminish franchisee profits somewhat, but it's likely to increase overall sales. Breakfast is the mealtime of the future for fast food, and although McDonald's leads the way in the consumer's mind, with so many possible entrants into the $1 breakfast, it's anybody's game.