With Smart Album you can tag your photos with keywords and star rating. Further you can off course create Smart Albums.
A Smart Album is an photo album that shows all photos that meet the criteria you specify.
You can specify keyword(s) and Smart Album will show all photos that are tagged with that keyword. This means that the same photo can appear in many albums.
With Smart Album you can very easily organize your photos in albums. Setup your Smart Albums and tag your photos return to the Smart Albums and you will see the photos you tagged.
Supported criteria are; Keywords; Star Rating; EXIF date; TIFF Camera Model; EXIF lens model
Other features are: Slideshow; option to email a photo; export a Smart Album to the Photo Library

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Feedback is really appreciated
Visit http://smartphotoalbum.com for the road map and the user guide.
Huub
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Version 2.0.0 released 06/10/2013
* Assign keywords to your photos
* Assign star ratings to your photos
* Slideshow improvements: assign keywords, view and edit star rating; overlay stays visible with a swipe to next photo and more
* Auto detect changes in the photo library at startup; i.e. one time run of indexer, after that all changes are processed in the background when you open Smart Album.
* User can change the order of the Smart Albums
* iPhone; gallery
* Bugfixes

Version 1.4.0 released 04/03/2013
* IPTC Star Rating Filter; create a Smart Album with all your 5 star photos
* Global Star Rating Filter; quickly filter existing Smart Albums on rating
* Album cover photo
* Source selection; you have control over which photo sources are indexed. For example it is possible to exclude the photo streams.
* Bugfix: Smart Album should work again under iOS 5.0

Version 1.3.0 released 02/25/2013
* Complete new photo slideshow similar to the native Photos app in iOS, it is based MWPhotoBrowser:
** photos can be zoomed and panned
** the date and keyword tags are displayed in a caption
** photos can added as an attachment to an email
** photos can be copied to the clipboard
* Added TIFF Camera model Filter (TIFF Model) and EXIF Lens Model Filter (EXIF Lens Model)
* Improved performance of thumbnail overview
* iPhone 5 support
* Bugfix: save album from tag browser replaced previously saved album
* Bugfix: disabled left slide-in on iPad iOS > 5.1 in portrait; the slideshow crashed. Please let me know if this view is important to you.

Version 1.2.0 released January 22, 2013
* assign an album name
* filter photos using a Date Filter, a Keyword Filter, an Album Filter or any combination of these filters.
* sort photos by Exif Time Date Original
* option to export a Smart Album to the Photo Library
* create/add or modify albums

Version 1.1.1
* iOS 6 support
* set slideshow delay to 0 to have manual control
* possibility to delete recent albums
* removed the 20 album maximum