I saw a number of lyrics display discussions on the board, but the ones I viewed seem to have deadended.
I found a very fast plugin for WMP and WinAmp here http://lyricsplugin.com/ I use WA with XL and tried it.
http://www.gladwyne.com/avatars/lyrics_screen_shot.jpg
As you see in the tray, I need to home XL to see the lyrics. The lyrics window is html and the plugin is using our ID3 tags to query Google for the lyrics. If you install the plugin and right-click on the lyrics, you can see the source code.
Anyone want to take a crack at replicating something like this for XL and Winamp? I'd be happy just switching to a XL Web browser screen to see the lyrics.