Was tinkering with an idea during the Duke vs UNC game tonight and came up with this. The blurry text is accomplished using text-shadow, with the text color set to transparent.
I've only been testing with Webkit (Chrome specifically) and I didn't implement any other browser prefixes since this was just an experiment. Live demo: shakenandstirredweb.com/playground/blur/
UPDATE: I've updated the CSS to support Firefox (tested in 4.0 beta)