As seen at last week’s WWDC, iMovie for iOS looks like nothing else out there when it comes to mobile video editing. The Tidbits blog has posted some more details about what you can expect, and unfortunately, there’s some limitations on what you can do with iMovie.
The bad news is that for right now, it’s iPhone 4 only, with iPhone 3GSs needing not apply because of the lack of A4 processor. Don’t expect it on the iPad until Apple’s tablet gets a camera, though.
There’s more bad news: right now, you can’t export projects to iMovie on the Mac for giving your edits some more advanced finesse. iMovie for iPhone exists in its own little vacuum for people who want to quickly edit a movie on the go. If you want to edit your iPhone 4 footage on your Mac, you’ll need to start from scratch, at least for now.
While iMovie for iPhone is likely to be locked to next-gen iOS devices, I imagine Apple will eventually integrate the software with the desktop suite and bring it to the next-gen iPad and iPod Touch. Either way, at $4.99, iMovie for iPhone looks like a steal of an app.