You don't need to wait for an upgrade. The Magic Lantern firmware offers the Klingon death ray now, although it's still in the beta testing phase. I believe that it's the function that ML warns you not to use.
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But i kinda like the jumpiness too, and to some extent it was intentional. I'm a big fan of stop animation, so i kind of like the look of time lapses that don't try too hard to be video. Does that make sense?