Very interesting idea! Looks like you have a small graphical error right here: http://i.imgur.com/cfICi.png, too little spacing between "dots" and the text when there is a big headline. (I am using Chrome 11.0.672.2 dev on OSX)
Along the lines of display errors, you have a problem with your slides when a user has JavaScript disabled: http://i.imgur.com/lThGo.jpg. I think you could set slide.p2, slide.p3, and slide.p4 with display:none; initially in your css, as opposed to doing it via JavaScript as the page loads, to account for this.