No amp sims or anything like that...it's a straight up recording app. Maybe in the future they'll have in app 3rd party plugins. I haven't tried ampkit with it yet but plan to try it today.
You can't import plugins...everything has to be an in app purchase...it's just the way apple works with apps. In app purchases include Drumagog among others.
I just have an Apogee Jam right now...I can plug my guitar directly into it then the ipad but that just gives a clean signal. I can also run a mic into the Jam to mic an amp but I haven't experimented much with that yet. I'm hoping to get a better interface like a FocusRite Scarlett at some point.
grabbed it and Overloud. used it with my Apogee jam. it sounds way better than garage band's guitar sounds and really just as good as my line6 and ampkit apps.
i imported a drum loop into it and recorded two guitars... splabity blurp...