Another $0.02 from some guy in Santa Cruz:

Having a progress bar is much more user friendly then just having the "8:47/16:14" style indicator that we currently have. Visual representation is almost always easier to use than just numbers.

Also, the whole point of using the knob, is that you can adjust how fast it fast forwards or rewinds on the fly. Turn the knob slowly, and it goes slowly. Turn it fast, and it goes fast. Not a hard concept to understand.

This ability would alow you to quikly jump to halfway through a track, and then slowly fast forward to the part you're looking for. You could even back it up a little bit if you overshot it, all with the same controll.

IMHO, this would be much improved over our current controlls.