I've got a continuous, real-time video file (mpeg) of an unrepeatable, 6hour event. I would like to extract from it the required frames/sequences that would condense the action into a watchable time-lapse clip. For example, extract (say) 10 frames every 2 minutes of real-time. In the good old days of DV tape capture I could achieve what I required in post, by setting up the provided, off-camera tape capture options that were part of Premiere Elements.
I supect I could achieve the time-lapse I am looking for from my modern setup by exporting the mpeg file as, an avi movie back to DV tape on my old DV camera. Then I would commence a recapture to my PC, but with my Premiere Elements set to create a time lapse, from what the camera and software would see as fresh material. But this seems a bit clunky.
Does anyone know of a smarter way of achieving my ime-lapse conversion -but having PremiereElements 10 process the native mpeg file?