Im a bit surprise about few things in IPhoto for iPhone.
1) I cant create albums or group pictures into events. Is it true?
2) Once Ive dited few photos there isnt an easy way to save them i to my photo library. in the share menu, there is "Camera Roll", however it allows you the export 1 picture per ime (differently from other sharing options) and it takes ages.
This is not the same behavior I have on iPhoto for mac: when I edit a pic on mac the edited pictures replace the original ones (and they are automatically stored in my photo library and shared among all devices).