A:AnswerI use LumaFusion (costs $20) but don’t expect a powerhouse out of this iPad. You should be able to do casual 1080p video editing and so forth. The export time is slow though.
A:AnswerNo.
The iPod Touch is something like an iPhone without the guts of a phone. Just enough CPU and storage and support hardware to play music. It looks a lot like an iPhone.
The iPad is 8x bigger and is more suited to running productivity applications, reading email, browsing the WWW, and so on. You can't do any of those things with the iPod.