It has taken a long time, but Photoshop Touch for Android phones and the iPhone finally arrived yesterday. The top photo-editing application has a very similar set of features with the tablet application.
If you are going to use Photoshop Touch as a replacement for the desktop version of Photoshop, stop reading this right now. The app isn't designed as a replacement for Adobe's famous photo-editing software. However, you will be able to do basic tasks such as resizing your images, stylizing your images and adding filters. The app even allows you to work with layers. It is far more advanced than any photo-editing solution that has been released for a smartphone platform.
Five of my readers who informed me about this are all very satisfied with the app and say it is the coolest app they have downloaded yet. The app will take $4.99 out of your pocket, but it is definitely worth the price.