Paul just sent me a link to a cool sounding (but unfinished) project called code4lib session snatcher. It sounds like it's a pet project of a systems librarian who was working on some code on a flight to the code4lib conference. The code is intended to act as a presentation recorder for the S5 presentation system, recording both slide timings and audio, and (presumably) packaging both up for playback after the fact.
It's currently Pretty Darned Hard to properly record a full-on presentation. Getting the audio is no biggie, but getting the timing of the presentation so it synchs up to the audio is decidedly non-trivial. The session snatcher author referenced Lawrence Lessig's quest for a usable solution to do this. I'm not sure S5 would satisfy Lessig's style, but this just might work...
Art took an interesting tack in recording an S5 presentation - it looks like he's using a java client/server combination to act as both webserver (hosting the S5 presentation, and therefore recording times of requests) and recording the audio. That's pretty cool. I couldn't find a download to try it out (and couldn't find more info about it on his blog), so I'm just dumping a reference to it here so I'll eventually remember to come back and see how things have progressed.