Just in the nick of time, Apple has updated the iMovie iOS App to version 1.1, adding support for the latest iPod Touch. You can now record, edit, and export home movies directly from a $229 handheld gadget. Crazy. The application is $4.99, and available through the App Store.
What’s New In Version 1.1
• Compatible with iPod touch (4th generation).
• Ability to split video clips.
• Automatic music looping when video extends beyond music track.