Apple has updated iMovie for iOS.
The new version contains:
• Three new trailers — Adrenaline, Coming of Age, and Teen
• Add photos to any trailer and have them automatically animate with the Ken Burns effect
• On iPad, open the Precision Editor to create split audio edits
• Play clips in the Video Browser before adding them to your project
• Create a slideshow by sharing photos from iPhoto for iOS
• Tap the help icon to display Coaching tips
• 1080p HD upload resolution is now available for sharing to YouTube, Facebook, Vimeo, and CNN iReport
• Audio recordings captured in a project now appear in the Audio Browser for easy access
This $4.99 app allows you to create and edit your own HD movies using the built in camera on your compatible iPad. You can even make your own trailers and share your work.
iPad Notebook 
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