typewriting effect in javascript

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Bids
3
Avg Bid (USD)
$83
Project Budget (USD)
$30 - $250

Project Description:
I need a Javascript to achieve the following.

I have blocks of text such as:

block1
block2
block3

Functionality required:
1. Typing effect - The script should print the text of the blocks on the screen character by character as if someone is typing it with adjustable typing speed.
2. block2 should then after an adjustable delay replace block1 and be printed on the screen - block3 replaces block2 etc. The last block should stay on screen.
3. the text in the blocks should be html formatable, means, should allow underlining of words, different colors, links.

Skills required:
PHP, Software Architecture
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