New Instagram 4.1 brings Import Video, Automatic Straightening for iOS and more.

Instagram keeps improving to face compete. So, following the launching of Video on Intagram, a new Instagram 4.1 includes henceforth:
Import Video from Library: this means you can upload videos from your phone’s media library and share those moments to Instagram
regardless of when they were captured.
Automatic Straightening for iOS : now, when you take a photo with the in-app camera, you can now tap the new Straighten icon and your photo will correct to be level. In addition, you can rotate and adjust any photo.
And finally, facebook has expanded Video on Instagram to people who use Android 4.0 (Ice Cream Sandwich).
Instagram for iOS version 4.1 is currently available for download in Apple’s App Store and Instagram for Android version 4.1 is now available on Google Play.