The lovely DM1 is looking better than ever now with Retina support for iPad 3s, but this update also brings some substantive changes as well!
3 New Effects: Reverb, Formant, Dalek filter (Pictured Here)
There is also now SoundCloud and Facebook exporting.
Still missing, however, is MIDI Sync or Virtual MIDI.
Here's a song by DJ Galactic, done in DM1 with a Korg Kaoss Pad adding further effects: