Bit of a leftfield suggestion, but I wanted to do time lapse as well but was concerned about dramatically increasing the number of shutter activations on my DSLR, plus the security aspect of leaving the camera unattended for lengthy periods. (The alternative being to sit next to the camera for hours on end!)
I ended up getting a Pentax Optio W90 point and shoot. It has built in interval shooting (customisable for 10 seconds upwards) up to 1000 frames, and is fully waterproof and shockproof, so it does double duty as a camera to take hiking, kayaking etc. It obviously doesn't have the full controls of a DSLR but it does a pretty decent job. Time lapse tends to be landscape style shooting so shutter lag isn't really an issue.
Best part was that it only cost $210 from Amazon, so if it gets stolen or damaged then I'm not going to be quite as upset as if my DSLR were to be stolen.