An example:
http://nl.youtube.com/watch?v=ErfgdMRqlpE Obama's victory speech
A tutorial for After Effects:
http://www.crookedgremlins.com/09/01/2008/kinetic-typography-tutorial/
http://nl.youtube.com/watch?v=6W97E3JYAqI&NR=1 (mcdo prayer)

My question: Can it be done with VMS using only 4 tracks and keyframes? Has anybody here done this already?

Edit:
Here is a nice one done with Vegas (Pro?)
http://nl.youtube.com/watch?v=5hbf5_kuJmI Batman's The Joker