Is the Flipboard iPad App Worth Flipping Out Over?

Everyone has been buzzing about the Flipboard iPad app, but what exactly is it? Basically the program lets users create a social media magazine of their own using the feeds from their Facebook and Twitter accounts. But is it cool or corny?

From what we've seen in the trailer, the app looks pretty amazing. It takes info from your accounts and turns them into a sweet layout, just like you'd see in your favorite glossy. Touching the "articles" opens them up to full view, and if your friends link to photos or features, you can see them right there.

The best part about the app is that you can reply to posts or like them on Facebook without having to exit the tool. Of course, it's not meant to be a full blown Twitter browser, so you can't see tweets from people you're not following. But if you just want to experience your social media streams in a fun way, this is an awesome app for it. The best part? It's free.

Watch the trailer for Flipbook after the jump. What do you think of the app? If you have an iPad, would you download it? And if you don't have the device, do you still think it's a cool concept?