Webcams don't do long exposures, they simply take many short exposures in a video.
A digicam like the one you're talking about would not be able to be converted to do that, at 7mp there's just too much data to flow along the bus.
If it has a video mode, like most digicams do, then that could certainly be used for lunar/planetary photography - it would save a movie file (mpeg or avi) on the camera card, and then you could run that through registax (some conversion may be required).
The problem with the built in video mode of those digicams, is the awful compression and noise that you get.
The 7mp would be pretty good for stills of the moon, but if you want to get into hi-res lunar/planetary photography, the best bet is still the ToUcam as a budget webcam. It delivers consistently much better results than any still camera i've seen.
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