Existing users, 
Well that makes no sense.
Overnight or or once a day backups would defeat the whole purpose of TM's incremental backup. If you created/downloaded a file then deleted it, only to find days later that you needed it, it wouldn't be there in Time Machine, which is what's supposed to happen.
If you want overnight backups, get SuperDuper or CarbonCopyCloner.
TimeMachineScheduler
set Time Machine's backup interval from 1-12 hours
Version: 2.3.1
24 Hour Backups?
Feedback Type: Commentary
Contributed by: Rogue Crew Tuesday, November 27 2007 @ 08:39 AM PST
Product Platform: MacOSX
Used Product For: Have Not Tried
Comments
24 Hour Backups? - ratpoison
You don't need to unplug your drive, the Time Machine system preferences panel has a giant OFF-ON slider switch on the lower left. Just turn it off when you don't want it to make backups and turn it on when you want the safety of recovering from accidentally deleted email messages, mis-edited iCal entries, files you've messed up, and so forth.Thursday, November 29 2007 @ 02:47 PM PST
24 Hour Backups? - Rogue
This gives YOU the option to run TM when you want to suit your working conditions.I found hourly a pain in the butt.
This is a great program giving you more flexibility on a program that gives you none.
Thursday, November 29 2007 @ 03:49 PM PST
24 Hour Backups? - michael-fuchs
>>You don't need to unplug your drive, the Time Machine system preferences panel has a giant OFF-ON slider switch on the lower left.
Indeed, it does. And they really couldn't have made it any bigger. Me dumb, sometimes...
Thursday, November 29 2007 @ 05:21 PM PST
24 Hour Backups? - sdridgway
Hey it will do until Superduper! works properly with Leopard.Wednesday, December 05 2007 @ 03:17 AM PST
24 Hour Backups? - michael-fuchs
Well, you saying that it makes no sense makes no sense to me, so there you have it.It all depends on how you work and what you want the application to do, which is very different from person to person. I'm glad to hear that hourly backups make you happy and give you meaning and purpose. For me it's far too much and I keep unplugging my backup drive to avoid the noise & slow-down. Pain in the ...um... fingers!
Apple used to be all about "choice", so I'm glad that somebody put it back into an application, when Apple forgot.
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Wednesday, November 28 2007 @ 09:10 AM PST