Just in case someone does not remember the discussion around http://steady.stupeflix.com/ here https://news.ycombinator.com/item?id=8048413 I am posting the links. I came away really impressed by their page, couldnt try it out for the lack of a device. Would be eager to hear reactions about hyperlapse from those guys.
I wonder how troublesome it is to keep the gyro stream and the frame stream in sync.
Cool project, but if you want the same cinematic smoothing without the time lapse effect, I highly recommend Steady[1].
1. https://news.ycombinator.com/item?id=8048413
Edit: Hyperlapse can do this too. Thank you Wang.