Feel free to use Jaraoke's code as a jumping off point for playing with the HTML5 <audio> tag. I wrote a post on my blog with some explanation as to how this functions.
Jaraoke by Randall A. Gordon is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License.
Based on a work at randallagordon.com/jaraoke.
Song: "Discipline" by Nine Inch Nails
Check out http://remix.nin.com/ and http://www.ninwiki.com/.
This is possible thanks to such great projects and forward-thinking.