I'm playing around with an svg wrapper for jquery. As mentioned in How_HTML_5_Is_Already_Changing_the_Web this kind of programming will become more commonplace in a few years. For now I will contend with the current support for svg for this kind of development. I've tried using an svg layer as a canvas. It works really well in firefox and chrome. There was a gotcha however: I had some problem with setting the size of the canvas after it was loaded (for instance in $(document).ready(...)).
Comments or errors? Fork post and do a pull request on github