Oh.  You just got your new iPod touch with video recording.  You might want to pick up iMovie as well.  Apple has a freshly updated version for you as well as some additional features for current users.

Thanks@SquidgySam!

New Features:

• Compatible with iPod touch (4th generation). • Ability to split video clips. • Automatic music looping when video extends beyond music track. • Scrub to preview clips in Video Browser. • In-app Tips page that illustrates how to use key features. • Updated Photos Browser with newest images at top. • Mute badge to indicate video clips with audio disabled. • Additional performance and reliability improvements.

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