I'm doing a small project for someone, it's just text and a plane object. A total of 17 objects including the lamps. I want to achieve the same effect as the transparency node in cycles to fade out, but rendering at 350 samples for over 24 hours only rendered 250 frames. I am stuck with CPU rendering, and using a laptop, but that's what I have for now. If I can do this with the internal engine then that would be ideal. The finished project will be around 1440 to 2160 frames at minimum. If it makes a difference for guidance in the most efficient way to do this, the vertices count is around 2,000,000 on the .blend file, and I will be adding a glossy to the materials, and the world setting will be a texture. Just have to remember how to set that up, I haven't done that for quite some time in BI. Thanks in advance everyone!
Certenly is possible, but you have to consider that Blender Render and Cycles handle transparecy in a different way, so you'll probably have to make a few adjustment to your scene to get similar results.
You can animate the alpha factor directly from the Material's menu
Or the alpha output factor in the node editor (if you are going for node based material).
Don't froget to enable Z Transparecy or Raytrace option for transparency calculation method (for node based material you can find it under Render Pipeline Options).