Ruby Challenge

OK, I'm giving the Ruby Challenge a go. Fabio Akita has thrown down the gauntlet for the first challenge, and it is a bit, well, for lack of a better word - challenging:

"The goal is to create a small command line script in Ruby that will read an SRT file, and output another one with the new calculated times."

Well...I think I can do this. I've already written a utility script to strip out emails form one file and write them to another, so I'm sure I can do this, I just don't know if I can do it in time.