I'm surprised an app like this hasn't been created before this (has it?). Joby has debuted yet another useful photo gadget - this time for free! The Gorillacam app for iPhone actually has several useful functions:#1 - a timer, with settings from 3-90 seconds, so you can scramble into that photo you're about to take.
#2 - time lapse from 3-200 shots between one second and two minutes each.
#3 - a "press anywhere" function, eliminating the need to search for that tiny button when trying to capture that priceless moment.
#4 - a bubble level for straight-shooting
... and a bunch more helpful things like 3-shot burst, easy uploading functions and unlimited rapid-fire.
Now all I have to do is upgrade my ancient 1st gen iPhone to use it... it requires the iPhone 3.1 update.