Check it out - you can make sweet timelapses with your built in camera using this application called gawker. I put up an example video in the videos section called "On the train time lapse". That video is way compressed just to give you an idea of quality. It's really good uncompress, and you can change a ton of settings to get the results you want.
DO IT!
http://gawker.sourceforge.net/Gawker.html
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