Since version 1.28 web2py ships with jQuery core libraries. We find jquery to be small, efficient and very intuitive to use.
According to this http://google-code-updates.blogspot.com/2007/11/my-how-weve-grown.html Google uses jQuery too.
Here are a list of jQuery plugins that you may find useful:
Here is a sample javascript scroller with jQuery to give you and idea:
<ul id="ticker"><li>News Item 1</li><li>News Item 2</li><li>News Item 3</li></ul>
<script language="javascript">
var newsitems, curritem=0;
$(document).ready(function(){
newsitems = $("#ticker li").hide().size();
$("#ticker li:eq("+curritem+")").slideDown();
setInterval(function() {
$("#ticker li:eq("+curritem+")").slideUp();
curritem = ++curritem%newsitems;
$("#ticker li:eq("+curritem+")").slideDown();
},2000); //time in milliseconds
});
</script>
Additional readings: http://15daysofjquery.com/