i am totaly new to chdk and interested in buying a Elph 320 .
CHDK has been ported to the Elph320 but not released yet due to lack of testing by any Elph320 owner. There are test builds available that should be mostly fully functional but needing testing & validation.
Your best bet is to read and watch the
IXUS240/ELPH320 Porting ThreadHowever I got on simple question: Is it possible to run timelapse on the camera and manually set the shutter speed with CHDK?
Yes.
I want to use the camera on a Drone (quadcopter). To get blur free shots i need to make sure that i can set the shutter speed manually to a high value like 1/500 sec while the camera chooses the right aperture to get a well exposed picture (like in TV mode on a DSLR).
Most of the smaller Canon P&S cameras, and all of the recent inexpensive ones, do not have a variable iris or aperature. The numbers you see in the specs are the "effective aperature" at different zoom positions or with a Neutral Density filter in or out of the light path.
In your case, the camera will need to adjust the ISO sensitivity setting to compensate for your fixed 1/500 (or higher if you like) shutter speed. In low light situations this can result in higher noise in your image but for the most part should be perfectly acceptable outdoors during daylight shooting.
