Photography Bay has posted a rather exciting video, taken at Adobe's Photoshop World 2011 keynote, that demonstrates a "concept" Photoshop app for the iPad. Although you can already get Adobe's Photoshop Express app for the iPad, what's demoed in the video simply blows that out of the water.
With layers and filters, the video demonstrates manipulating multiple pictures without any lag or delay, and there's a particularly nifty animation that reveals the layers you're working with and how they all fit together. As Engadget points out, there's no way of knowing whether these photos have been pixel-optimized for the demonstration or whe