PresentationZen has an interesting post about Ignite. Standard PK (Pecha Kucha) is 20 slides, each lasting 20 seconds, i.e. 6 minutes 40 seconds.
Ignite is 20 slides, each slide lasting 15 seconds, i.e. 5 minutes in total. Surprisingly, the dynamics of 15 seconds are quite different from 20 seconds, the whole flow needs to be more continuous. With 20 seconds each slide can still have a separate meaning, this is less true with 15 seconds.
However, as Garr Reynolds says in his post, things like PK and Ignite are great fun and a great ways to develop your skills, but they are not the way you should ever deliver a client presentation.
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