I typed this up on my iPhone, and haven't had a chance to really look at it SUPER closely on the computer--apologies for typos. I've been trying to post it for about a week, but haven't had much success given the amount of time ENWorld has been actually functional lately.
Love the drag and drop--that alone makes this app pretty much table usable for me...but just as a player perhaps--mostly since it still takes too much time to set up encounters.
Huge gripe: the delete encounter button is very close to the next turn button. There's also no "are you sure you wish to delete" confirmation, so that if you do mispress, you're out of luck.
No "save this encounter" feature--that's my number one request for the next version. If you could come with a set of encounters to the table, with minimal altering of the monsters beyond dragging them to the right order, it would be huge.
Minor request would be changing the initiative value as you drag and drop. You could set up typical ranges in a settings menu so that at this Y position on the screen, the init would be 20, further down 15, etc.
I really can't think of a better way to edit the monsters more quickly, but that's not really needed if encounters can be set up in advance (more than one that is)
Well done so far and thanks for making a great iPhone rpg app! (and being so receptive to comments!)