Today’s the big day we’ve been waiting for. Apple has released iMovie and Garageband for the iPad. Both apps aren’t created equally; however, according to Apple, Garageband will work on both the current edition of the iPad and the iPad 2, while iMovie is only compatible with the iPad 2.

Both applications have all the perks that Apple talked about during the iOS 4.3 / iPad 2 announcement last week. We’re not going to get into them here, but we will provide you with links to the apps on the App Store.

We’re jumping right into review mode. Today’s version of our podcast will be edited directly on the iPad. We’ll post how it goes once we’re through.