This is result of first Time lapse video from chase cam. It was a windy bumpy day do it did not  come out well but this shows what can be done. I shot it at 1 second time lapse setting using gopro hero 3 black edition at 1080 30 fps and no filter.  I shot a video the flight before and it all came out useable footage, suprised me. Shot time lapse is the flight from take off, high speed pass and landing in 17 seconds, this is as it comes from camera.  I then played with using gopro Studio program and changed shot display length and play back speed, then clipped some to reduce length, added notes and music.  One of the nice things about time lapse is each shot is a separate picture so getting good pictures is easy.  Quality is not as good on video because at 1080 i could not get it to process and had to reduce to 720P.  Next time will do in calmer day and try 2 and 5 second time lapses.