Would you recoomend this project?
Google2SRT allows you to convert subtitles from Google Video and YouTube to SubRip (.srt) format, which is recognized by most video players. You can download XML subtitles or simply type video's URL, Google2SRT will do the rest.
You can download file releases of Google2SRT project from List of release files
System RequirementsOperating System: OS Independent
List of release files