A few hours ago I shot a couple of night exterior Time-lapse shots with the EPIC. FPS and shutter were both at 1fps.
While on location, everything was looking good on the LCD screen but when I viewed the footage later on RCX, hundreds of hot pixels where visible. In fact, there were so many that the footage is rather unusable! Fortunately, it was only a test so we didn't have any heart attacks. Nevertheless, I was surprised by the obviousness of the problem. It's been a while since the last time I shot a time-lapse with the RED ONE and I was under the impression that RCX somehow masked the hot pixels when in Full De-bayer mode but certainly this is not the case.
So, the only solution is Sensor Calibration at the time-lapse's settings. After the calibration's 20 minutes (I almost emptied a fully charged REDVOLT doing it!!!) the hot pixels disappeared and the camera was ready to shoot nice clean 1 fps Time-lapse. The question now is... what does the 1fps Sensor Calibration do to the image if we go back to normal shooting settings like 24 Fps, 1/48th? The first thing I noticed from a very fast test was that some of the hot pixels where now appearing as black when the subject was overexposed (clipped whites). This is almost a deal breaker in many scenarios so that means a new Sensor Calibration is required for the new settings.
I am not sure why the EPIC takes so much time to do the Sensor Calibration but it can certainly be an issue if you are planning to shoot Night Time-lapses as part of a bigger shooting day. The Sensor Calibration times from one setting to the other will kill even the most patient crew! Maybe two EPIC bodies would save the day. :D
Something to keep in mind then.