I bought this app for my ipad2 in March. It was functional for a time, but clumsy to use, but the author was promising upgrades to it.
The 2.3 update basically broke it for me. When you click on the wheel to select the database it crashes right away. Then, the next time you launch it, it crashes immediately before you even get to the selection wheel. The IOS5 update didnt magically fix it.
Even deleting and reinstalling the app does not solve the issue. It will even crash selecting its test database. I rate this a ONE (since zero isnt an option) and suggest that it be pulled off the App Store.
Chuck54321 about iKeePass, v2.3