Researching wide-screen alternatives to using anamorphic lenses, I came across Techniscope, otherwise known as 2-perf, an old film format that provides a wide aspect ratio image while saving film, therefore being mostly used for low-budget productions. Back in 1968, Roger Ebert wrote about the film “Counterpoint”, stating that, “The movie is shot in Techniscope, a process designed to give a wide-screen picture while saving film and avoiding payment of royalties to the patented processes like Panavision. In this film, as in “Harry Frigg,” Techniscope causes washed-out color and a loss of detail. Universal shouldn’t be so cheap.” (Source) The film format was used between the 1960s and 1980s, after which it was abandoned due to the low-quality output, as the spherically shot frames had to be anamorphised and enlarged to be projected on regular anamorphic projectors. However, Techniscope made a comeback and was used for the underwater scenes in Titanic (1997) and slow-motion scenes in Panic Room (2002). If the film is scanned in digitally, the process of anamorphising and enlarging the frames is unnecessary, leading to higher quality reproductions.

In 2011, Nicholas Kovats achieved a modification to his Bolex H8/H16 cameras, which allowed him to record native 2.8:1 aspect ratio spherical ultrawide frames onto Regular 8mm film. Kovats calls this format UltraPan8.
http://vimeo.com/36944151
In Late 2011, The Lomographic Society announced the Lomokino camera:

Film type: 35mm
Exposure area: 24mm x 8.5mm
Frame rate: Approximately 3-5 frames per second
Focal length: 25mm
Angle of view: 54 degrees
Aperture: f/5.6, f/8, f/11 (Continuous aperture)
Shutter speed: 1/100
Focusing: 1m ~ infinity & 0.6m (close-up button)
Viewfinder: Inverse-Galileo foldable viewfinder
Flash sync: X-Sync (Hot-shoe)
Tripod mount: Standard 1/4″ tripod screw
Shoots identical UltraPan8 aspect ratio = 2.8:1
Lomokino frame size
The Lomokino camera is able to fit 144 frames onto one 36 exposure roll of standard 35mm film for still photography use by splitting up each exposure into 4 frames. In doing so, the resulting images are cropped to a wide aspect ratio. As it turns out, their frame size of 24 x 8.5mm is close to that of the Techniscope format, which is 22 x 9.47 mm.
Frames per 24 exposure roll: 24×4 = 96 frames
Frames per 36 exposure roll: 36×4 = 144 frames
Lomokino frame rate
The Lomokino camera features a hand crank and the frame rate is determined by the speed at which it is turned. In Lomography’s official documentation of the product a frame rate of 3-5fps is stated. In order to achieve higher frame rates the hand crank would need to be replaced with a motorised solution. Researching if such a modification had been attempted before, I came across a blog post on the Lomography website describing the use of a drill as a motor for the camera.
The following calculations show the drill speed in rotations per minute needed for frame rates 16, 18, 24, and 25. However, as the Lomokino is made of plastic, the shutter and other internal components may not withstand running film through the camera at such high speeds. 18fps has been achieved before using the drill method, but 24fps or 25fps may be too much for the mechanism to handle.
(16:2) x 60 = 480rpm drill needed
(18:2) x 60 = 540rpm drill needed
(24:2) x 60 = 720rpm drill needed
(25:2) x 60 = 750rpm drill needed
Lomokino film length
Since the Lomokino camera divides each exposure into 4 frames, the resulting film length of a 24 exposure roll shot at 24fps would be 96 frames / 24 = 4 seconds. Shooting at 24fps on a 36 exposure film roll, the 144 frames available / 24 = 6 seconds. 4 or 6 seconds of film length may not seem like much, but if the shots are pre-planned, the editing process could be eliminated by sticking to 4 or 6 second shots using 24 and 36 exposure rolls of the same film type accordingly. Personally, since I still have a lot of 24 exposure rolls of Kodak ColorPlus 200 film, I will stick with these for now, limiting my first test shots to only 4 seconds. One film I would like to try if the modification works is the Agfa APX 100 Black & White film.
Links
Lomography Shop London, Film Processing Price List
Thread about the Lomokino camera on Cinematography.com
Failed lens upgrade attempts