Instagram may have lagged behind Vine in providing a short video-sharing service, but they are moving ahead of the competition with one very sought after feature: importing video from your camera album.

Previously, the app required you to capture video in the moment, with no feature to include previously saved videos into your post.  However, with this latest update, the user can pick and choose 15 second chunks of content from any clip in your camera roll.

Beyond this the update will also bring photo auto-straightening functionality to iOS, so all the user will have to do is predd a button to even up a shot taken with an angle.  Also, video support is coming to Ice Cream Sandwich with 4.1.

Source: Instagram