You can't change the rotation angle, only the display of angle.
The timelapse is referred in the Camera Setup menu under the title of "Interval Recording." In the old days, timelapse was achieved with an "Intervalometer."

You are SO correct about 60p. It alone creates the "window into reality look." That's because there are so many distracting interlace artifacts to 1080/60i that your window looks dirty.

The EBU wants only progressive -- and while only Panasonic and JVC will have 60p this year, you can bet ClearVid and EIP will provide 1080/50p within 18-months. Now that will be a WINDOW!

And, until Adam tests the V1 for resolution and aliasing -- I'm not sure we can really say the V1 delivers a "significant or meaningful" increase in resolution over JVC's 720p. Remember, for those that don't want 24p or 30p -- 25% of the resolution is lost when running in interlace mode. I suspect, that when 1080/60i from the V1 is honestly compared to 720/60p from the coming JVC -- the V1 will not have meaningfully higher resolution.

Folks need to know that pulldown does NOT need to removed. I'll be working with the V1 in a week and I'll edit 24p as 60i. The key is to not cut to a judder frame. Your production will look just like 24p converted to video. I'm saying this because I don't want folks to think they will not be able to use Sony 24p or 30p UNTIL software arrives. Sony has always said that they CAN do 24p but when they do it -- they will do it RIGHT. By right they mean using industry standard pulldown.