PhotoToaster was released earlier today. It is a Universal app that is currently selling on iTunes for just $0.99 (Introductory sale price).
East Coast Pixels posted this video that shows the main features. This video is the iPad version, but the app behaves the same way on the iPhone.
PhotoToaster seems really well done for an initial release and the user interface is nice. There are starting to be some rather complex (and powerful) apps such as PhotoForge 2 that may not appeal to everyone. PhotoToaster is simpler and is relatively easy to use – but provides quite a bit of control over the image if you choose to use the sliders to adjust parameters.
The ability to save your own presets is a great feature. The built in presets are a great starting point, and sometimes you won’t even need to do further adjustments, but you easily can if you want to (as was shown in the video) and use your saved presets in the future.
The app handles full resolution images and is very fast in real-time display as you move sliders or jump between presets. The ‘click and hold’ feature that shows the original image is great. If you are looking for an app that does basic photo editing in a very simple way, I think this is a very good app (especially with the initial price).
These images both used one of the PhotoToaster presets (click to see them on Flickr).