iMovie, Avid's intention to woo Apple's users is clear. Those five bucks get you a tidy storyboard solution, "precision" editing, the usual array of transitions and effects, plus multi-channel audio support (including access to your iTunes library). Video can be shot from the device itself, of course, and camera kit owners can import footage from your archives. The final results can then be rendered in either 480p, 540p and 720p or shared via the usual social options. Most importantly, projects can also be finished off in the desktop version -- handy, if they start getting into Titanic territory. It's available today, just focus your iPad at the app store (or the source link below).