A:
I believe so. I was able to make a 'stop motion like' effect by speeding up the timeline in iMovie for a little wedding snippet. With a tripod and solid lighting you will have more than enough frames from which to pull from for the effect.
NOW if you are doing true stop motion, note that not only do you get great video, you can manually control settings for both video and images in the advanced menu. There are also continuous shot modes for you to work with as well. This is truly a high quality camera.
http://www.youtube.com/playlist?list=PLT3_CuHMQNRQL2md3ejFTUNmSRnPhArgA