Just saw this free download for Movie360 for the iPhone and iPad from the Chinese start-up creators of Camera360. (Normally $2.99) I haven’t personally tested this app, but I did grab this deal. It is rated 4/5 stars in the iTunes store. (I have tested it since. It is very easy to use.)
The concept is very interesting to me. I can’t wait to try out the special effects that you can add to your film. Syncs to your PC over wifi, so no messing with USB cables. I am curious to see if you really can do a 2 hour long movie.
Worth a try since it is totally free right now.