I have just purchased a Canon TS-E 45mm f/2.8 for use during time lapse filming. Here is an initial test.

As an experiment, I decided to create, edit and publish a time lapse video using just my iPhone 4S. Here are the results:

I used iMotion HD and iMovie. This would not be possible without the ability for applications to share content between them. I would encourage iOS developers to take this into consideration when building apps, rather trying to bolt in every possible piece of functionality into a given app.

A short time lapse video of an evening of Beijing traffic. Shot using a Canon EOS 5D.

Music credit: Blue Bhikku by Meturi