HTML 5 - A GUI Alternative?

Reading up on how Scaleform is being used in commercial apps for GUI purposes (and being used in the UDK), I wonderer if the latest version of HTML could be an indie alternative to making menus, HUDs, etc. a la Scaleform.

Yeah, I know there's a Torque resource gamekit out there that uses similar code as Scaleform. Just thinking out loud.

SC