Er, someone has created Hanyu Pinyin subtitles for the film Crouching Tiger, Hidden Dragon (Wòhǔcánglóng / 臥虎藏龍 / 卧虎藏龙). They’re in UTF-8 (Unicode) and come in two varieties: one with tone marks (link above), the other without. The latter would be useful primarily for those who have trouble getting diacritics to appear properly, such as many of those watching the movie through a TV hooked up to a DivX DVD player.
The set of subtitles also includes English and Mandarin in Chinese characters (both traditional and simplified versions).
The subtitles might seem to go by a bit quickly. But that’s generally because people don’t have much experience reading Hanyu Pinyin. (Also, the English subtitles leave out a lot. But the Pinyin ones are comprehensive.) Practice reading and you’ll get much faster at it.
Remember to use these only for good (e.g., practice reading Pinyin, Mandarin learning, helping those with problems reading Chinese characters) and not bad (e.g., piracy).