How to make your own panning time-lapse iPhone movies -- on the cheap

Stephen Sande at The Unofficial Apple Weblog explains:

So, you've always wanted to be able to take one of those cool time-lapse iPhone movies that slowly pans from one direction to another? Now you can do it easily and inexpensively with the Camalapse, a US$25 accessory that works with a Glif ($20) or other iPhone tripod mount to give your iPhone a spin as it's taking a movie.