Have you ever wished there was a magazine custom-tailored to your world? Well, a new app called Zite promises to create a personal magazine experience on your iPad, and you don’t have to do much at all.

Zite was launched today as a free iPad app. It works by taking initial data from your Google Reader and/or Twitter accounts to see what you like to read and who you follow. After that, it’s smart enough to search for things that you enjoy while making a custom magazine to fit your tastes. It’s similar to Apple’s iPad App of the Year award winner for 2010, Flipboard, which pulls your social and other updates into a magazine.

Zite makes it less confusing by working more like Pandora — the popular build your own radio station site. If you like a story you can give it a thumbs up and you’ll get more stuff similar to that. If you’re not interested in something, give it a thumbs down and it will ditch similar information. Zite will even take into account the length of the articles you read, the political stance of stories and send more of what you like.

Soon, your iPad will have a custom magazine with all the information you’d like to see, and some you didn’t know you wanted to see, into one app. There’s so many places to get information today, and not enough time to find it all, it’s nice to know that an app can do it for you.

Since the launch earlier today, judging by users’ comments, there may still be some kinks to work out. The biggest complaint? It’s just too darn slow. The concept and what it promises to do is terrific, if they can work out the kinks.