As mentioned before, I think the Timeline Javascript should be Initializable. And since I see the need, who better to do it than I?
I've attached a new version of timeline-api.js to this posting. It has an initialization function that one can pass in a urlPrefix parameter (and hopefully more if the SIMILE folks pick it up):
<script type="text/javascript" src="http://www.example.com/timeline-api.js">
<script type="text/javascript">
Timeline.Initialize({
urlPrefix : "http://simile.mit.edu/timeline/api/"
})
</script>