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This is part of my Blender Video Sequence Editor Series. In this tutorial I show how to change the speed of a video clip using Blender. I used a small video clip that is 640x480 px at 30 FPS running around 4 minutes in length. By adding an effect I change the snowball fight into a high speed chase sequence ...or something like that.
The tutorial can be found here:
http://www.stevenpowerssmp.com/2012/04/bledner-vse-how-to-adjust-speed-of.html