I would recommend that you use a tool that is good for time lapse photography. QuickTime Pro Version 7 from Apple is good for this. You first must install QuickTime Player Version 7 from your OSX Install disk, and then buy an unlock code from Apple to turn it into the Pro version. You can then import these photos as a still image sequence.
Another great option is a third party app called iStopMotion.
These apps can give you a great timelapse sequence.
If you want to further edit the movie at that point, you can import it into iMovie and add titles etc.
Good MacWorld article here
Here is a good info on using QuickTime Pro. Skip down to "Making a Movie".
Good blog post here.
You can do all this in iMovie, but it is very laborious. Still images will import at 4 seconds long. You would then have to edit each still image down to 1 frame. This takes a long time per image, but is possible.
Just to give you a flavor of it, watch this video.