Run to the iTunes Store and get Michael Hardaker's 645 Pro or PureShot. I love both of these, yes I did buy both. 645 Pro I use when I want to see all the information or use a different format like 6x6 or 16:9 etc. PureShot is a simpler app to use and is great for quick pictures. His apps save in jpeg (less compression than the std app so a little better quality), high jpeg which is the highest quality for jpeg. The last two are tiff images. 645 Pro has a compressed version or an uncompressed version. PureShot only has the compressed tiff. Space for me is not a big issue so I have been using pretty much only tiff and 645 Pro is always set to uncompressed. Of coarse as there is less compression the file size goes up.
So far I like my iPad 3 and the camera is decent. Mine is a 64 gig and if I had of had the option of 128 back then I probably would have gone that route. There are an amazing amount of great apps available. This site has led me to some new apps that I didn't know about and it's a great place to ask questions.