This article came at a perfect time as I am just reading about the development of this video in "Inventing the Future Bit by Bit" by John Buck. The book also highlights some fascinating technologies that never came to pass but were worked on at Apple's ATG.
This is interesting as I am looking for a better way to transcribe my voice interviews into a Word document. I use Audio Hijack for various podcasting things but have not updated to 4.0. I will do so and start testing.