sorry to burst your bubble, here is an addendum to a story regarding iPhoto Studio, taken from
http://www.appleturns.com.
"Addendum: Scratch that. According to the Mac Show, iPhoto Studio is indeed a third party service, not an Apple product. Which, of course, makes us wonder what Apple will name its consumer image-editing application if/when it ever sees the light of day... we vote for "iPix."
iPhoto Studio seems to be some sort of management tool for professional photographers.
tr