So yeah! Here's the deal. Michael J. Nelson of MST3K fame is still doing pretty much the same thing via something called RiffTrax. From wiki:
...The movies chosen to riff in Mystery Science Theater 3000 were predominantly low-budget B-movies because the show itself was low-budget and producers could only afford films with expired copyright or had otherwise cheap licenses. The idea of RiffTrax came about after Mystery Science Theater 3000 was cancelled when Nelson researched and consulted a lawyer about the possibility of directly releasing DVDs of films with the commentaries included, but realized that he would be "sued out of existence". The best-sounding method of distributing the commentaries would be to sell them independently of the films to avoid having to obtain the rights to distribute the movies themselves.There would be no legal or monetary restrictions to prevent Nelson from producing them, though viewers would have to provide the movies themselves.
So basically you can buy an MP3 with commentaries, with Nelson and Kevin Murphy (aka Tom Servo) and Bill Corbett (aka Crow) mocking the movie in MST3K style, and sync it up with your own copy or use their own player which syncs it for you. When I saw "Matrix Reloaded" on the list of spoofed movies, I had to aquire it, so I used my favorite torrent engine, typed in "Matrix Reloaded" and "RiffTrax" and viola! Some enterprising youngster put it all together into a single avi file. It is Hillaryous!!! Haven't seen the whole thing but what I saw made me lol. For example, little comments like when Neo busts out of the Chateau and sees a mountain range: "Oh he's in Middle Earth now!" Or when Morpheus is fighting on the top of the truck:
Kevin Murphy (aka Servo): "What's the deal with Morpheus' vest, tie clip and sleeve garters?"
Mike Nelson: "I think he was a card sharp in Deadwood before he came to the Matrix."
You know, stuff like that 
Anyways they have lots of audio tracks for current flicks....can't wait to check out tracks for Cloverfield, Beowulf, I Am Legend, Transformers, 300, etc.! Great stuff!!
