I think the following links are relevant for those of us that know much less than you:

I liked this article that discusses three different solutions to callbacks with different compromises: http://blog.willconant.com/post/7523275566/continuations-in-...

Jeremy discusses #350 and tamejs here: http://news.ycombinator.com/item?id=2777196

Tamejs have a great writeup about the callback spaghetti problem here: http://tamejs.org/