@ricker, the settings in MJPEG are completely separate from AVCHD. I am using Nick's SpanMyBitchUp and the settings for MJPEG from Low Light. I get pretty good bit rates from MJPEG if I don't set the 2fps. But as soon as I set the 2fps, I get only 6 to 7 Mbps for mjpeg. The AVCHD is unaffected though.
Do a search for 100mbps MJPEG Low Light by LPowell and you will find the setting. Put the settings in and then set the 2fps for timelapse.
I still use this tool, very easy to use, here is the video i done with, shot on gf2.
Some great cloud shots there - thanks for sharing!
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