video via nexvio
ReelDirector is a surprisingly full-featured video-editing app that extends the video capabilities of the iPhone, allowing you to create a professional looking movie without uploading clips to your computer.
Like the iPhone native video editor, you can trim video clips. ReelDirector starts with the same functionality, then adds the ability to overlay text in four styles to any one of nine positions on the screen. You can add clips to your video project, and then use the "timeline" interface to drag and drop clips into position. Clips can be cut together directly, or you can select from a palette of 27 transition effects to merge them.
Once you've laid out your video, you can preview it immediately on your screen. Videos can be saved to the Camera Roll or emailed from your phone.
It's a pretty slick piece of work for $7.99 on the App Store. And apparently, enough people agree to make ReelDirector number 60 on the Top Grossing Applications list.