inStatus (free for a limited time) has all the usual photo-editing bells and whistles like saturation, sharpness, cropping and almost everything you need to fix up or modify a photo. That includes an array of filters and frames.
But inStatus specializes in text. The app contains templates for designer text layouts, more than a hundred fonts, various design icons, shapes, quotes and stickers to make your photos really unique. As a result, your photos are more like attractive presentations with moody visual elements. I would liken some of the results to a really nice album cover or poster.
You can use different layers, and once your text is inserted, you can change the size, color, font and rotation. An autosave function means you won't lose anything. The app includes extensive multi-page help, which is good as the app isn't always intuitive. There is also a complete undo feature.
Your finished image can be saved to your camera roll, or shared via Facebook, Twiiter, Instagram or email.
The free app leaves a rather prominent watermark on your image, which I found obtrusive. Of course that's an encouragement to buy the Pro version at US$0.99. There are also some background sets that go beyond what's included, although the included effects, frames, fonts and icons are generous in quality and quantity.
I like inStatus because it concentrates on typography, something most photo editors offer only basic controls for.
If you think this is the app for you, try the free version, then part with the $0.99 to remove the watermark. If you can live with the watermark, the free version is well-equipped and will certainly enhance your photos in ways other apps can't. You can browse many example photos here.
inStatus is not a universal app. It requires iOS 5.1 or later, and it is optimized for the iPhone 5.