Thanks Snapper, nice find.
@ AndyCivil
I recently had a little play with doing a time lapse using ML's intervalometer and "silent" picture mode.
There are a few drawbacks to this method.
And 1 HUGE advantage.
Drawbacks
1:- Your fastest shooting rate is 1 FPS.
2:- The output resolution is only 1056x704, this is because "silent" mode uses the live view and converts this data to a .422 file. (See 3)
3:- Silent mode produces files (.422) that require processing before use. A .422 --> jpeg converter is available.
Advantage.
Zero increase in shutter count.

Sample of original image quality.
Once the .422's were converted I used VirtualDub to compile them into an AVI file.
The results aren't HD quality but its certainly not bad.
http://youtu.be/D2WnARstal0P.s. Could someone tell me how to link to YouTube properly, like I've seen in other peoples posts, where you actually see the video in the post rather than just the link ?
Interwebz and forum no0b here

P.p.s. YouTube has bashed the hell out of it, original is more defined and smoother during playback.