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Just saw the app at NAMM last week.
Looks amazing. It will do everything listed above and more. It will let you do just about everything you can think off, except for editing FX. Don’t quite know why. May have something to do with the touch screen computer.
I heard it will cost $99 at the app store, but there will be some promotions with console purchase.
End of the month release is what I heard.

Gil Parente
Design & Integration
Entertainment Arts, Inc.