During its media event on Wednesday, Apple unveiled FaceTime for the iPad 2. The video calling app and service will function just as it does on the iPhone 4, and it will obviously support video chatting with both iPads and iPhone 4s. FaceTime for the iPad 2 is part of iOS 4.3 and will be available immediately at launch on March 11th. Apple also introduced iMovie for the iPad, which includes a precision video editor, multitrack audio recording, over 50 sound effects, new themes and AirPlay for sharing videos in HD with popular sites. The new iMovie app is also universal, so it will also run on iPhone and iPod touch as well â€” and it’s still just $5 in the App Store. Garage Band for the iPad, also announced at the event, features a variety of touch instruments and recording capabilities. Users can also plug in a guitar and play real instruments as well. The app sports guitar amps and effects, 8-track recording and mixing, over 250 audio loops to play with, and it’s compatible with the popular OS X version for Mac. Garage Band will cost $5 in the App Store when it launches on March 11th.