LCD Timer Battery grips aren't new, but there are some new ones showing up on the market for the Canon 7D, Canon 5D Mark II, and Canon 550D / T2i, and even newer Nikon DSLR's also. The LCD in the battery grip provides settings for (Intervalomter) Time Lapse functions. It's quite handy to have the Timer Remote feature already in the camera, for those spontaneous timelapse moments. There does appear to be some limitations to the internal timer functions, but if you're spontaneous, I doub't you'll want to spend a few hours with your camera in one spot. Here's some additional specs:
These battery grips sure do look a lot 'fancier' than the the standard grip, and contains all the basic features of the regular grips, but there still might some limitations to the internal Timelapse (Intervalometer) features. If you want to dish out a few more dollars though, you can have something that stands out from the regular grips. Check out the line of LCD battery grips with built in Time Lapse Remote Function.