Recently I shot some time lapse with my Panasonic G2. With both clips, I made use of a Canon FD 24mm f2.8 lens via a Ciecio 7 adapter.
This first clip, of ice cubes melting, is composed of 400 JPEGs.
The second clip, of a ferry arriving at a wharf in South Australia, is made from over 2000 JPEGs. I also used a Hoya ND8 filter here to get my shutter speed down to 1/30th of a second.