Hi everybody i'm fairly new here but thought i might be able to help/add my two pennies worth.
I compile time lapse videos for our company and we currently use mainly Mobotix cameras for image capturing, they produce the best images for the file size of all the cameras we have tried, only issue is that they are expensive (read very expensive). But i suppose if you're going to be using them a lot it helps!
You can have several outputs on the camera so depending on the quality of connection you could record an image every 10 mins to one folder, every hour to another etc. And possibly even have a live feed on a website as well.
To compile the clips I use VirtualDub (a freeware AVI programme) and then convert into various other formats from there.
Oh and lastly, just because everybody loves looking at the clips, here's one of ours too http://cctvmon.com/leadenhall/september.html (though the camera used here is not mobotix, just to confuse things further)