Though video editing on the iPhone isn't exactly new, only recently has there been more than one program allowing you to do that. The above video is a quick look at both Reel Director and iMovie. I tried to make the same travel video in both programs to better figure out the strengths and weaknesses of each. Enjoy.
Read the article: nerdology.tumblr.com/post/898106189/editing-video-on-the-iphone-4-though-video