tmp.js

function good_to_go(video) {
    video.on_event(function(time) {
        $('#time-display').text(time);
    });

    // at this point in time, our callback function is registered and "prev"
    // is null

    video.seek(42);
    // now we have set the video time - unless we happen to _exactly_ nail the
    // current time of the vide, on_event will fire off the callbacks
    //
    // I know this works with the YouTube video
};

$('#player-id').video({
    youtube: 'u5rLSyT_hVE',
    ready: good_to_go
});