One problem you will hit is your powershot shutter will burn out long before the around two hundred thousand shutter actuations required to capture an entire feature film.

You would be better off with a machine vision camera, a HD video camera or a DSLR that has full HDMI output and capture from that. No shutter actuations required.

If you can come from one of the newer model cameras that has uncompressed HDMI output (like the new Nikons) then you can capture via HDMI and get fantastic quality. You might be able to borrow one for the project as you won't be 'wearing it out' by taking lots of shots, just use the video function.