Jim's rendition of an 'ajaxy' now playing script.
The below box will be refreshed every 10 seconds (configurable) with the contents of a server side file. For demonstration purposes only, the server side file is dumping out a date string so you can see it updating every 10 seconds as I claim. Obviously, if you were to use this, it would be getting the text file you mentioned instead of a PHP file. This too is configurable. :)