Richie, I suppose that IS stands for Image Stabilization. If so, I like to agree with your narrative (😁), because an exposure time of 1 sec (in de hand held mode) would normally result in a blurry picture. Amazing result now. Very handy (no tripod required) 'toy'!
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You are getting as good as Moses on slowing down the water Richie. Excellent handheld time exposure. I could never do one that good. If you are not steady as a rock, it must be a good camera.