iMovie, GarageBand for iPad announced -- $4.99 on March 11th

In addition to the announcement of the iPad 2, Steve Jobs just unveiled iMovie for iPad, so all your tablet video editing dreams are about to come true. So what does this new version of iMovie have in store for you? A precision editor, multitrack audio recording, some brand new themes, AirPlay to Apple TV, and the ability to share videos in HD. It'll be available on March 11th (the same day as the new iPad) for $4.99.

Apple's also just outed GarageBand for iPad. The app will boast several touch instruments, guitar amps and effects, 8-track recording and mixing, over 250 loops, the ability to email your AAC files, and it's compatible with the Mac version. GarageBand for iPad will also run you $4.99 when it's released on March 11th.