If you want to display the lyrics of the song that is playing on iTunes, LyricsPlugin would change the way you listen to songs. LyricsPlugin.com has developed a new plugin for Windows version of iTunes that automatically fetch lyrics from their huge lyrics database and then show them as the song plays.
Download LyricsPlugin for iTunes player and install it. Play any track and then press CTRL+ T to turn plugin On or Off. Its free to use and defiantly worth a download. I posted an extensive blog post on features and working of this amazing plugin, you can read it here- Display Songs Lyrics in Windows Media Player.