HD video recording is one thing, but the iPhone 4 needs a way to edit these recordings on the phone itself. Enter iMovie for iPhone. At last, you can be the Steven Spielberg of the iPhone. Well, maybe not that good.

Nothing too fancy here. We are talking video editing on a phone after all, not a desktop. But you can combine various clips, add music, photos, titles and transitions as well as throw in some basic effects. The effects are from the desktop version of iMovie, so you’ll recognize them. You can export in 360p, 540p and 720p.

Just in time for Father’s day, the VholdR ContourHD is now shipping. Dads everywhere will soon be doing stuff like jumping out of planes, all the while making a video from their point of view. The 720p wearable cam was first announced back in April.

It will cost you $299.99, but Amazon has them for $20 less and they are throwing in a $50 gift. Which oesn’t do you much good if you Jackass stunts land you in the hospital.

Lexicon has a new line of I-ONIX Desktop Recording Interfaces. Interestingly, the USB-enabled I∙ONIX U22, U42S, and U82S were designed to fill that empty space between your keyboard and monitor. Each unit features dbx microphone preamps on all analog inputs.

The U22 will record two channels at once and even includes a pair of analog combi-jack mic / line inputs, two TRS balanced line outputs, a Hi-Z instrument input, a 0.25-inch headphone output and MIDI I/O; the U42S and U82S include four and eight analog combi-jack mic / line inputs, S/PDIF I/O, two instrument inputs, and two 0.25-inch headphone outputs.

Imagine how many times great musicians have lost masterpieces just because they didn’t have a way to document it. That’s where the iDea guitar from Ovation comes in. It’s the first guitar to feature a built-in MP3 player for just such occasions. There isn’t much info on specs, but it probably has a decent amount of flash storage so you can record anything on a whim. It features a control panel on the side with an LCD display, mic input and a USB connection. It also has an easy to use 4-way controller for menu navigation. If that’s not enough, you get a set of basic EQ sliders for the bass, mid and treb.

It will let you record the guitar, mic or anything else that’s connected to the aux in jack. You can even mix those features together or use the pitch-stable variable speed playback option to slow things down for practice.

XM’s XMp3 portable radio has been leaked along with one of its key features, thanks to a new Popular Science issue that accidentally revealed the device before showtime. The size has been reduced compared to the the Pioneer Inno and other previous handheld satellite radios, but the big news so far is that the XMp3 has the option of capturing five separate channels and downloading a song from each at the same time. The user could listen to a live event without missing broadcasts on other stations. Details are scarce, but we know it has a color display of unknown resolution and a dock. We’re guessing it also sports typical mp3 storage as well. No pricing info yet or launch date, but expect it by year’s end.

This odd mic is blue, with 2 big ears, which is creepy enough, but the most disturbing thing in conjunction with those features is the lack of any face at all. The ears are supposed to capture sound in stereo just like human ears. At least that’s the idea. Problem is your subject will be so freaked out, they’ll be running in the opposite direction.

The other problem is the price. The Binaural Recording Mic from Otokinoko retails for $3,900. That’s a lot to pay to look like a dork. There is one upside to using this strange device though. If you’re filming in some remote jungle and you meet up with a hostile tribe, just grab this baby, hold it up high and they’ll be worshipping their new God.