Inspired by the CPU meter posted by blair1618, I made a iTunes song duration meter which (obviously) displays the song progress. Enjoy!
Note: You need to change the "/path-to-script/" in the first row of the code which is
to the path you saved the SongMeter.scpt file. Thanks to spamxlive for telling me about that.
Update: I've now changed the code to show the meter only when the song is playing. If you want a fix, search through the comment section.
Note: The song title, artist and album are parts of a different geeklet, the likes of which are around in the Music section.