the best way to do it is with a P2
if you don't have 7 grand lying around to spend on a camera, you can find some HDV and DV cameras that do interval recording, but because they record onto a tape you can't set them to capture just one frame at a time (its like 15 frames or something)...depending on what you're 'TLing' it might look really choppy
the cheapest way to make it look professional is like this:
http://www.creativetechs.com/iq/create_timelapse_videos_with_imovie_hd_6.html
its essentially a poor man's P2...the only drawback is that you have to have your laptop with you. you may also run into issues if you can't turn off the powersave function on your camera
digi SLRs are great too....I'd look at the Canon 5D Mark II because it shoots stills and 1080p video
to do pans you can get motorized heads for a couple g's....if you're very precise you can turn the camera manually or you can do it later in your editing software
