Your wanting this effect in still or video?
You can actually read exactly how this video was put together here.....
http://aerofilm.blogspot.com/2010/02/sandpit-short-film-by-aero-director-sam.html
Heres an excerpt.....
"ME: (thinks) Maybe. Anywho… How did you shoot The Sandpit?
SAM: It is shot on a Nikon D3 (and one shot on a D80), as a series of stills. I used my Tamron 17-50mm f/2.8 and Sigma 50-150mm f/2.8 lenses for all of these shots. Most were shot at 4fps in DX crop mode, which is the fastest the D3 could continuously write out to the memory card. The boats had slower frame rates, and the night shots used exposures up to two seconds each. The camera actually has an automatic cut off after 130 shots, so for longer shots I counted each click and quickly released and re-pressed the shutter release after 130 to keep shooting."
Also, no need for an expensive tilt shift lens, unless you have the money to burn, this look is easily faked in post.
http://en.wikipedia.org/wiki/Miniature_faking
Heres a cheap version of 'tilt shift' photography, Lensbaby lenses.
http://lensbaby.com/