A low-priced newcomer to the multitrack space is GigBaby! (V. 1.3, ioMetics LLC; $0.99), which has a surprisingly robust feature set considering its price. You get four tracks of recording (no punch-in, though) and a metronome that can be used with the recorder or as a stand-alone, and also features some nice graphical indicators. A small library of drum loops is provided, which could be useful for songwriting inspiration, and a setlist manager for gigs is also included.

FEATURES, AT A GLANCE

Precise metronome accurate to 45 ms across the length of any recording
Drum machine with dozens of multitrack digital audio beat patterns
Four-track recording to record voice and instrumentals in sync
Set list management to quickly recall the setup for any song
Track sharing to share and swap your recorded tracks
Individual volume controls and individual mute buttons
Automatic latency compensation ensures that the audio tracks are synchronized with the rhythm track and with the other audio tracks, including tracks that are shared

Find out more information about GigBaby!.