This BikeCam slideshow is the other way, both in direction and technique. I stuck the camera on the handlebars for the ride home, and used QuickTime Pro's "Open Image Sequence..." feature to build a movie at 2fps automagically. That took maybe 5 minutes, including the resized export of all images from Aperture. That was muuuuch easier/quicker than the way I built the last one (using iMovie - that was pretty easy, but this was just pointing QuickTime at a directory and exporting the result). Easy peasy.
[flv:http://www.darcynorman.net/video/BikeCamCommuteHome2_480_360.flv 480 360]
Update: made a new version of the video, with a soundtrack. Rise and Fall, by Sylvie (couldn't find a link!)