No, I haven't produced an oscar-winning movie, but with ReelDirector, I'm on my way!
With ReelDirector, I can stitch together movies I’ve created on my iPhone and create one long movie. I can add a title, rearrange the order or my videos, trim, and even add transitions such as fade through black, various wipes, and cross dissolves (my favorite). The app compresses the final version so I can easily share it with my friends by email. It's very easy to use, too! Reel-Director is a must-have for iPhone 3GS users.
Other features of this app can be found on the NEXVIO Web site.