More details on the latest version of FourTrack, from the press release:

FourTrack iPhone App 2.0 Update Adds Bounce, Duplicate and Metronome
–New song tools expand FourTrack 2.0 to be the first multitrack studio to go beyond four tracks on the iPhone.–

Bounce – Mix your song to track 1 and 2 of a new song. This makes room for two more tracks while preserving the originals for syncing to desktop recording software.

Duplicate – Make a backup of your song and continue working on it in a different file.

Metronome – Maintain a consistent tempo by recording along with real drums (not MIDI) using FourTrack’s built-in metronome. Select a tempo by entering a number or by tapping. Choose from seven sounds including three beats by celebrity drummer Jason McGerr on his signature Ludwig kit recorded in his Seattle based studio, Two Sticks Audio. Other sounds (Block A, Block B, High Hat, and Pop) are samples of live drums and percussion courtesy of Discrete Drums, the original multitrack drum library. Time signatures include 3/4, 4/4, 6/8 and X/4 (which are unaccented beats that can be used to play 5, 7, 9 and
other odd meters).

FourTrack at the app store:
FourTrack

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