Jailbroken iPad users running iOS 4.2 are now able to run Apple’s iMovie iPhone 4 and iPod touch 4 application via a few SSH tricks. The problem is that iMovie runs like an iPhone app on an iPad- letterboxed. That’s where the jailbreak app FullForce comes in. The jailbreak-only app (available on Cydia) makes iMovie run fullscreen like a native iPad app. Check out more screenshots and instructions after the break (Thanks, SilverTH):
MacStories has a good tutorial.