Cocoa Box Design has released a major update to Penultimate, its digital ink notebook app for the iPad. Penultimate 3.0 adds support for custom photorealistic paper styles that can be created from the user’s image library and shared with friends and colleagues. The new feature allows users to easily import backgrounds such as storyboard templates, design forms and more. An in-app Paper Shop is also available to allow users to browse professional collections of paper styles that can be purchased from directly within the app. The update also adds options to include the paper designs when printing or sharing notebooks and fixes issues with VGA output in iOS 4.3. Penultimate is available from the App Store for $2.