I remember watching a match during a strike of announcers in Italy, where announcers are supposedly very knowledgeable about soccer.

It was one of my best experiences in soccer ever, beat only by when I started using my radio to listen to a group of comedians commentary.

Not all tv programmes are captioned. Sometimes pushing the CC button won't work :-)

Then something like this becomes incredibly useful.

EDIT: Also, (and I'm not sure if tveeder supports this) but making this a web service means that even hearing people can search for the resulting transcripts as easily as any other text.