If you've ever wanted to add, edit or delete folders on your IMAP email account, FolderBuddy is the application for you. FolderBuddy is an invaluable too for folder editing of MobileMe, Gmail, Yahoo and AIM accounts.
The other interesting aspect of FolderBuddy is that it has a clean, easy to use AND understand interface along with iPhone-specific functions (like shake to refresh & swipe to delete).
Overall features include:
Support for other IMAP providers
Add/Rename/Delete folders
Support for nested folders
Multiple accounts support
SSL support
After going through the program and testing it out for about two weeks, I wholeheartedly recommend FolderBuddy for any road warrior. Especially at $1.99 in the AppStore now, it's a steal. Enjoy my vid review:
If you've ever wanted to add, edit or delete folders on your IMAP email account, FolderBuddy 
is the application for you. FolderBuddy is an invaluable too for folder editing of MobileMe, Gmail, Yahoo and AIM accounts.
Wow... really what I needed. This is a useful tool! Thanks for the info.