[New App] [Update: It's In The Market] Fresco: A Mobile Canvas For All Of Your Artistic Needs

Update: This app has finally landed in the Android Market, so head over there and grab it!
Have you ever been out somewhere when you were suddenly hit with a stroke of artistic genius? You haven't? Oh... well, have you ever been bored and just wanted to doodle on your phone a bit? If you fall into either of those categories, you need to check out a new app called Fresco.
This app is labeled as a "mobile art studio" per the developer, and it packs quite a few nice features: full layer support, configurable brush and eraser tools, smoothing, flood fill, zoom/pan, export to .PSD (with layers) and more. Fresco also has filter support, which includes contrast, saturation, brightness, blur, emboss, noise, and sharpen. Have a look at a few images from the preview:

  

Fresco supports both phone and tablet resolutions, so regardless of what you feel like creatin' on, it has you covered.
You won't be able to get Fresco from the Android Market just yet, though - it's in open beta over at XDA, so head over there, grab it, and let the dev know what you think. Once you've completed your amazing work of art, drop by the Fresco Flickr and share your work with the rest of the world.