Spotted this via the Twitter of Ian Marsh (Nimblebit) - an arcade-style plane shooter called Aera coming soon for your iThing.

A few things make this look incredibly awesome: (1) You can record your flights and replay them; (2) There's a 'Second Chance' feature which is basically the PoP/Braid-like 'reverse time when you die' mechanic; (3) It appears to have some nice multiplayer features going on.

No release date or price is set yet, but this is definitely shaping up to be a solid title for the App Store.