Holding a camera steady while recording is hard enough, but the lighter it is, the more the slightest shake of your hand will show up in your clip. iMovie on your Mac does a great job at smoothing out any jerkiness, but iMovie on your iPhone has no such feature...until someone made an app for that.
Apple issued an update for iMovie for iPhone 4 today in order to fix various bugs in the movie creation software. The $4.99 application for Apple's newest iPhone has proved to be quite a workhorse, even helping to make a short film, but it hasn't been without its shortcomings and bugs. Here's to hoping this update fixes most of the bugs.