I came across this only now and it's good. Here's a IRC convo on it:
[16:13] <srikat> try http://www.zapreader.com/
[16:14] <srikat> I have been testing it since half an hour. Looks like it really makes me intake content faster than normal reading
[16:20] <app> omg...you actually like that?
[16:20] <app> that conflicts with my reading style
[16:20] <app> i don't read 1 word at a time
[16:21] <bro|thr_S> srikat: o.O wow, looks great!!
[16:21] <bro|thr_S> srikat: I *listen* to some knowledge-based radio shows at ~180% of the speed too, so this might work for me
[16:22] <srikat> app: you can set the no. of words it shows you per frame
[16:22] <srikat> I set the speed to 325 and no. of words to 2
[16:22] <app> i am kind of a natural speed reader
[16:23] <srikat> The author said in the screencast, he uses 600 and 2
[16:23] <srikat> now that's really fast
[16:24] <app> kind of makes it hard to visually scan diagonally through a paragraph though
[16:24] <srikat> ya, this is not for most web surfing activities where we scan
[16:24] <bro|thr_S> it should have keyboard control, like GoogleMail and http://www.rememberthemilk.com/
[16:24] <srikat> this is for those articles that we really want to read, every word
[16:25] <srikat> bro|thr_S: it uses few keyboard controls currently. 'p' to play/pause; 'l' to skip to nxt line, 'k' to previous line etc.
[16:25] <app> only thing i read every word is technical stuff where i am reading it to learn something
[16:26] <bro|thr_S> srikat: ah, thanks