Found this, does this sound about right?
4K-15 (protune): 3.2 hrs @ 45 Mbps
4K-cin-12 (protune): 3.2 hrs @ 45 Mbps
2.7k cin-24: 3.2 hrs @ 45Mbps
2.7k-30: 3.2 hrs @ 45 Mbps
1080-60: 4.8 hrs @ 30 Mbps
1080-48: 4.8 hrs @ 30Mbps
1080-30: 7.2 hrs @ 20 Mbps
1080-24: 4.8 hrs @ 30 Mbps
1440-48: 4.8 hrs @ 30 Mbps
1440-30: 7.2 hrs @ 20 Mbps
1440-24: 4.8 hrs @ 30 Mbps
960-100: 4.8 hrs @ 30 Mbps
960-48: 4.8 hrs @ 30 Mbps
720-120: 4.8 hrs @ 30 Mbps
720-60: 7.2 hrs @ 20 Mbpswvga-240: 4.8 hrs @ 30 Mbps
But then what's the battery life like? Can you hook up external batteries?
I don't need a high frame rate, can you set it to take pictures every x-seconds.
Doing other things but the big one, is climbing Kilimanjaro next year, and would like to film the entire hike, then speed it up to say 30min or so video.
Doesn't really say much though about bit rate or battery life, well something on battery life.
Looking on youtube even a 30second time lapse, with wifi off, lasted under 2hours.
I have to confess that I sadly still haven't played around much yet with my Hero 3 Black.
Of what I have done, such as a timelapse using the WiFi feature on a fully charged battery, it lasted barely 40 minutes.
You could run it from a power source, but you will either need to use it without a case, or buy the skeleton housing, which they have now released for the Hero 3.
Alternatively, you can try and butcher a cable to slip it through the back of the standard housing with the non-waterproof door, like so:
http://www.instructables.com/id/Modify-a-Mini-B-USB-Cable-to-Power-an-Enclosed-GoP/
Ultimately though, using it connected to a power source, there are a myriad of other cameras that will offer a better still picture for a timelapse, and give better manual control. So its not really the cameras best feature. I personally stick to using it what it does best, POV video for sports.