I decided to experiment with timelapses today.
I used the magic lantern intervalometer on my Canon 60D with my kit 18-55mm f/3.5 lens from inside my room, capturing the clouds.
I followed this tutorial which I found to be very clear and helpful.
My camera settings were f/14 1/80 ISO 100 White Balance: 5200K (daylight) and some minor adjustments were made to the RAW using Adobe Bridge.
The timelapse was assembled in LRTimelapse 2, a free program. It was then rendered in Adobe After Effects CS5.5
The intervalometer was set at a rate of 1 photograph every 30 seconds, for 300 photographs.
As you can see the clouds move very fast, I think next time I will have to increase the interval between photographs, as well as increase the amount of photographs taken.