here is a good site, the the FAQ is great
http://timescapes.org/phpBB3/viewtopic.php?f=40&t=1871
I done a few time lapse videos
http://vimeo.com/20734785
I use a canon T1i, you do not need fancy expensive lenses. I shoot in aV that way I get to set the f stop to a better value, and let the camera work out iso and shutter (you could also set the iso and leave the camera to work with just the shutter speed).
Things I have learned
do not use auto settings, it leads to flickering
set the focus using autofocus, then turn it to manuel so there is no AF.
see my first time-lapse, it has flicking.
http://vimeo.com/20425311
extra gear needed,
large SD card, do not shoot raw, I shoot at small on my camera, it turns out about 3.7MP, with is enough for 1080P, 8MP should be the max.
I use
Shoots Timer Remote Control RS-60E3 intervalometer (cost $13), which I purchased from amazon, it does unto 99 shots or infinity.
http://www.amazon.com/Timer-Remote-Control-RS-60E3-Canon/dp/B003Q9RERY/ref=sr_1_1?ie=UTF8&s=electronics&qid=1300512236&sr=8-1
I live in the pacific northwest, and the last 2 months (could be longer), it rains and rains and rain etc, so I have not got out to shoot some more.
equipment I am looking at for the future, is a turn table for my camera and a dolly/slide, both motorized, I will build these myself to save $$.
currently I do not have a tilt shift lens (i do tilt shift using an aperture plugin), but the 2 lenses I will by this year is a
Canon EF-S 10-22mm and a Lensbaby Composer for tilt shift.
my next shoot I will try to do stars, it all about learning, reading, asking and practice, practice, practice
for processing of images:
I use aperture for an post production of the images, so I can do all the shots in a batch.
1 shot every second for an hour is 3600 pictures.
I use Quicktime 7Pro to sequence the images into a movie, this is an awesome tool, my first time lapse I imported nearly 4000 pictures into iMovie, and it take a lot more processing.
I used iMovie so I can edit different clips and add music (which I make in Garage band using loops).