That's kind of this guy's shtick - he's the mind behind the esteemed soundManager2 library (http://www.schillmania.com/projects/soundmanager2/) that makes managing audio in the browser easier with js+flash.
That's in there also, yep. The prototype is aiming to recreate most of the usual tricks. It gets a bit hackish. Release TBD, hopefully soon. A teaser: http://www.youtube.com/watch?v=6NiMMSyk9GU