It gives you the option of importing your own music track in the application and adding custom sounds or recording on top of the imported music file.

The application lets you record up to 4 CD quality tracks and exports all the music files to your computer via Wi-Fi.

Application works with iPhone and iPod Touch with OS 2.2.1 (or higher) and is currently available on Appstore with a price tag of 4.99$.

Feature Highlights….

• 4 track recording in 44.1 kHz, 16 bit
• Import intrumentals (.AIF, .M4A, .MP3)
• Download intrumentals from the Internet and via WiFi
• WiFi-sync to export recordings to computer or upload new instrumentals to the device
• Metronome for recording from 50 bpm to 210 bpm
• Loop instrumentals (short .AIF recommended)
• Download browser supports http and https
• Access to htaccess-secured websites
• Create unlimited number of songs
• Recording-length unlimited  (According to the avaliable free space on the device)
• Displaying volume-levels for playing and recording

The site also hosts an excellent How-to of the Application which guides you through the steps to record songs, connecting to computer, downloading music from the internet, etc..

The following screenshot from RecordingStudio show the steps on how to create a song.. click here for more tutorials.

Click here to listen to a music file mixed using RecordStudio on iPhone. Impressed? Click here to buy RecordStudio from Appstore