2012Nov18 nightly build:
I love the time indication with 1 beep after 1 minute, 2 beeps after 2 min, and so on. But when it goes beyond 5 beeps it's really hard to count. A half second or so between the beeps would be very nice.
Another issue I noticed was that the timer is slightly off. I used my phone at the first shot and the times didn't match. I believe that after 5 minutes and 20 second the camera beeped 5 times. More accurate measurements can be provided if needed.