A new OneNote notebook reader app has arrived for the iPad. Outline’s biggest selling point is that it is absolutely free. Unfortunately, the app is extremely limited as a Version 1.0 release.

Created by Aqrate Software, Outline’s main function is to read your Microsoft OneNote notes. To do so, you must first import them into the app via iTunes sync.

According to the app’s iTunes page:

Your pages look exactly the same as in OneNote on your PC. All your data is rendered natively for iOS by Outline, including tables, links, inks and all other original formatting.

We care about your content – we even support many popular Windows fonts in iOS for you. We don’t yet render all of those crazy mathematics symbols, but we will soon!

Sync via USB. You don’t need to expose your notes to the internet or wifi networks anymore. Transfer your sensitive information directly to your device via USB cable.

Easily access your notebooks from Mail messages, web pages in Safari or any other iOS application.

Blazingly fast syncing. Tired of waiting for hours syncing your large notebooks? Outline syncs them in minutes!

No registration required. No additional software or service required. – Just start using the app.

A future app update promises the ability to actually edit your documents. In addition, automatic sync with Cloud storages (Skydrive/Dropbox) is also coming.

Outline looks like it could become a fantastic app. For now, however, its uses are very limited.

For one, not being able to sync could be a deal-breaker for many. Second, we hope that once syncing does arrive, it does so with Apple’s iCloud service too.

We’ll keep you updated. Meanwhile, Outline is available now in the App Store.\