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I wasn't thinking transcription. I was rather thinking about better navigation or focus on the interesting parts of a video. For instance:

idea #1: play video at 2X (or 1.5X speeed) with no pitch modification, so quickly go through most content. When I focus on the video frame, slow down to normal speed. Maybe have an obvious "rewind 30 seconds" like TiVo, so I can re-hear what sounds interesting

idea #2: tag the video timeline from other users commenting on specific times of the video (I have seen this on some video sites). That helps navigate faster and "move around" a video.

The main problem I see with the video format? Think of DVD vs. VCR. It's about rewinding and direct access. A video player online is just a long line, you get lost very easily. Somehow, you don't get lost navigating pages of text. Haven't you ever been frustrated that you couldn't find back something you just saw in a video? And I don't mean search by keyword...

I've found that listening to videos on BloggingHeads.tv at 1.4x speed works just great, and really improves the user experience -- and I never have to slow down or rewind, either. All video sites with people talking should have this as an option.

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