I did it years ago.  It does work in an odd sort of way.  We had a list of shit to look for off the internet before we did it.  Also, for the record, I don't think I was stoned. 

I would say that's the way to do it because I only remember certain things.  The things I remember

"Time" starts when you first see the lady who becomes the Wicked Witch. (That is, she's pedaling a bicycle right as you hear clock gears turning and such)

"Money" starts right as it goes fro Black and White to color.

While the Scarecrow is singing his song when they first meet him right as he moves either onto or off of the yellow brick road during his dance you hear the line "the lunatic is on the grass".  I think that happens more than once.

The heartbeat at the end of the album happens right as they're coming up to the Tin Man.

There was more, but that's all I remember right now, it was probably 7-8 years ago that I did it.  It was pretty trippy, but obviously just somebody with too much time on their hands.  Funnily enough the Blind Melon album Soup was in the cd player next and the Tin Man beat on his knees during his dance along with a drum fill.

It's trippy enough to check out if you're bored, but I suggest doing what we did and have the list of things to look for because there's a lot I would have missed.

I've heard and agreed for years that the best thing to do for these people is to get on the show and do fairly well, but not win it.  If you win you are basically a slave to whatever the producers want you to do for a while.  The contracts for the losers aren't near as long or strict.  So you can do what you want, or what other people might be telling you is better for you to do once you're not under their umbrella anymore.

I suppose Kelly Clarkson is an example of even being able to do the same thing if you win, but she did have to wait longer.

And because I found it and laughed just as hard 15 years later, here's Spinal Tap talking to Metallica that I was talking about earlier

[youtube]R_wlcG1hCoE&feature=related[/youtube]

Yeah, when it first came out and I was 14 it was pretty cool.  Hey, they yell FUCK a lot. 

Once I got a bit older the ridiculousness of it comes out pretty easy.