This sounds like a great idea. I used to love watching MST3K a show in which three characters would sit in front of a terrible movie and have a running commentary of jokes. This is the same concept except you just have to download the audio track, with them riffing on it it and stick the dvd on at the same time. Its like a directors commentary except actually funny and worth listening to.
The first movie they are doing is the Patrick Swayze masterpiece Roadhouse.
A major plus is the files are regular DRM free MP3 files woohoo, the world sees sense, or at least a small part of it does.
Former Host and Writer of MST3K Launches RiffTrax: via Slashdot