You will get an ability to open and edit native PSD files on your iPad using standard Photoshop image editing tools (support for layers included). Photoshop on iPad is said to look similar to Photoshop on the desktop, with all of the same toolbar options.

You will also be able to transition projects seamlessly to the desktop and vice versa. Adobe states that Photoshop for iPad uses the same code base as its desktop brother with no compromises when it comes to power, performance, or editing results.