You just hook up the camera to a computer (laptop, whatever), set the rate at which you want to capture (1 frame every "n" frames) and let it go. You can capture the entire construction of a building (i.e., years) if you want. And, it is true timelapse.
Another possibility is to use the timelapse feature on your camera. Most of these "timelapse" functions actually take several frames each time the camera fires up. This isn't true timelapse, which is what I think Jay was referring to. However, I wrote a script years ago which will take one frame from each series of frames, thus giving you real timelapse. This assumes that you can capture the video so that you get a new event each time the camera starts/stops. The script used to be posted at VASST, and you might still be able to find it here:
Stop motion is a first cousin to time lapse. Check out this site for links to various Stop Motion programs, some of which can be used with various HD cameras:
EX1 at 1 fps with 18 frames of frame accumulation. Camera mounted on Mizar Optics motorised pan/tilt head which is incredibly cheap for what it is, under $200. At slow speed the head takes 30 minutes to pan 180deg.
No, I mistyped-there are 8 hour-long events. I found a way that worked, but not necessarily te best. I sped up the playbackrate to 4 and then used excalibur to make the velocity 300, created a new veg and dropped the original and ctrl dragged to speed it up, no multiple renders and looks great, like the blur that is the default.
It's much easier to have someone simply stab you with it multiple times--thrust, thrust, thrust, etc. After falling on it two or three times, you're gonna be hard pressed to get up again and again.
Sorry I don't live closer, or I would be happy to oblige you.