almost exactly like the app Chord Play. In chord play you also get access to 12 chords instead of 10. You can save your collection if chords and they are fully customizable.
I am guessing that this app functions similarly...
EDIT: I meant to say that this app looks more polished. Chord Play's interface is not as good as I want it to be honestly, and there's no savings for groups of chords.. manually having to change the chords is just not acceptable. Another thing I don't like about Chord Play is the inability to view or change/modify saved chords. But these things are really minor.
It's really too bad that Guitarist does not feature a way to strum Chords to play, otherwise I would not have 4 guitar apps on my iphone right now (Tuner, Chord Play, Pocket Guitar (for bassist), and Guitarist). Among them Guitarist is the most polished one.
EDIT2: I just saw this video,
http://ca.youtube.com/watch?v=5UxHjgmEjf4
It looks like it keeps your chords for different songs, great!
