Did a short timelapse test with the 5D to see how well the files graded as well as to see just how good 4K would look. I also wanted to test just how many shots I could get on my 32gb SD card before it was spent. The answer to the number of photos questions, while shooting in large raw, is less than 1000. I only used about 550 frames for this short timelapse but if you wanted to shoot a lot of large raw timelapse sequences you need to be prepared to spend a small fortune on cards or plan on off loading a lot.
Of coarse we all love raw because of the control you get in post with white balance, exposure, etc. This was no different as the raw files graded very well in post. In the end because of the fact that 4K is so unusable as of right now ( this is changing very fast) I think the way to go is to shoot medium sized raw files. The medium size files still give you that raw control and are still plenty big enough to turn into a 1080p movie sequence. It also will help to save a lot of space on your cards so you don't have to be on food stamps to shoot raw timelapse sequences!!
This footage had to be downgraded of course because Vimeo only allows up to 1080p but you can get a good feel for how much more detailed this sequence is than what you would get from your average 5D mark III ALL-I 1080p video shot. Any questions on work flow or anything else please feel free to ask. If you are interested in grading some of the files yourself just ask and I can always email them to you.