I agree it looks stellar. But as a developer of songwriting applications ( I believe the "Smart Instruments" are a basic implementation of our ideas ) my heart dropped when I saw the price. $4.99 for this amount of content is amazing, but also impossible for smaller devs to compete with head on.

With that in mind I hope shortly after release Apple publishes some sort of easy way to export directly to Garage Band so that more niche products can ride the coat tails.