The new version of iMovie and GarageBand were set for a Friday release date with the iPad 2, but it appears that along with iOS 4.3 they released these applications early.  I am guessing that this is due to the fact that they do not want to overload their servers as the iPad 2 launch is going to put some major strain on them.  below are 2 video guided tours of the 2 new applications.

Both GarageBand and iMovie are now available on Apple’s App Store for $4.99 each.

iMovie on the large iPad screen is full of features that make editing HD movies fast and fun. The Multi-Touch Precision Editor gives you the control to make the perfect cut. Edit multiple audio tracks with waveforms that let you see what you’re hearing. And discover many other features — from dynamic themes to direct HD sharing — that make iMovie on iPad an amazing experience.

Built from the ground up to take advantage of the large Multi-Touch screen on iPad, GarageBand turns your iPad into a collection of musical instruments and a full-featured recording studio, making it fun and easy to create music wherever you go. Play a collection of Touch Instruments and Smart Instruments using Multi-Touch gestures. Or create a song whenever the inspiration strikes using a powerful eight-track recording studio.

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