Put your time lapse together at full res in quicktime pro or something similar tan import your full res video into final cut. Drag your clip to the timeline then go to the motion tab in the viewer window. In the motion tab, use scale and anchor point to resize and move the video around in the canvas. In the canvas window, there are three buttons in the top middle. if you click the one on the right, you can change the selection from "image" to "image with wireframe" so you clip will have a blue outline around it which will hep show you the edges of your time-lapse outside the canvas area when you are zoomed in. When I full res time lapses with my 5dmkII, i have a 5k res file to work with so you can do lots of zooming and panning on the clip when your editing in a 720p timeline.
Here is a time-lapse put together with lots of panning and zooming