Beatwave for the iPhone and iPod Touch Video Review
There are two different ways to review an app like Beatwave. One is as a professional musician, and the second is as someone using it as a novelty app. Despite many a nerdy night practicing my trumpet in middle school, this review definitely fits into the latter category.
At its most basic level, Beatwave allows you to create funky beats by tapping on different squares on the screen, representing different notes/sounds, etc. If you think you've created something really cool, you can save it, or even create a second loop to play with/over it. For me, that's where Beatwave ends. For musicians, several in-app purchase packs give you a bunch of additional useful features and instruments. Try Beatwave for free, then you can upgrade in-app to the pro version.
Here's a look: