A friend and fellow U. of MN grad student pointed me to an article in Wired called Podcast Chaos Be Gone which brought me to Podzinger, an online service that scans audio podcasts and uses speech recognition technology to create transcripts.
I submitted the Savvy Technologist Podcast recently and was informed a few days later that my podcasts had been analyzed and were ready for searching. A quick search for “digital storytelling” brings up my recent podcast with Michael Searson with links to the sections of the podcast where that text was spoken. Pretty cool. Unfortunately, it appears that RealPlayer and IE 5.0 are required to play the clips directly from the search results page. RSS feeds are available for all search results which means that you could subscribe to a feed that should notify you if any particular word or phrase is spoken in any podcast that Podzinger has indexed.