With todays processing power and the faults of current generation digital video cameras you can have a lot of fun – if you know how:

The above demonstrated effect is called Time Remapping. The description of the video tells us more about the effect itself:

The effect was discovered accidentally by a photographer called Jacques Henri Lartigues at the beginning of the 20th century (in 1912 to be precise). He took a picture of a race car with eliptical deformed tires – an effect caused by the characteristics of the camera he was using.

Source 1: http://vimeo.com/7878518
Source 2: http://en.wikipedia.org/wiki/Jacques_Henri_Lartigue
Source 3: http://bokeh.fr/blog/photographes/la-voiture-deformee-de-jacques-henri-lartigue/