Mobile iMovie Released On iTunes App Store [Although It Won't Run On Anything But The iPhone 4, iMovie Is Out, Will Let You Edit On The Go]

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During the iPhone 4 keynote, the big reveal that you could edit movies on the go got a mixed reaction from those of us here at TFTS World Headquarters. Some seemed to think it was gimmicky, while others thought it was genuinely cool. You can make up your own mind now as the app has been released to the public via iTunes.

I’m sure you’ve seen the keynote – it allows mobile movie editing. It’s a pretty light feature set – this isn’t Final Cut Pro on your iPhone, but it’ll probably satisfy most of the Facebook/YouTube crowd.

It’ll cost only $4.99. What’s controversial is that it won’t run on anything but the iPhone 4 – including even the iPad (probably because the iPad doesn’t have a camera). A bit strange for sure, but we’ve seen before that Jobs has very strict standards for performance. You know that if iMovie hangs at all, even for a second on the iPhone 3GS, that he pulled it. Keep in mind that the iPhone 4 records in HD, so you’ll be editing HD. Almost hard to believe that we’re at a point in time where you can record and edit HD movies in the palm of your hand – but I digress.

We’ve seen Nokia show off mobile movie editing features on the Nokia N8. Will mobile editing be a big feature? Will people clamor for mobile video editing on the go? Will Android 2.3 or 2.4 or 2.x have mobile video editing added in? What say you?