Functions:

1. Sets default input element text (from title) and adds 'defaultInput' class.
2. Removes that text and class when input is focused
3. If nothing is entered restores default text & class when focus is lost
4. Removes default text from input on submit if it's still present

As usual - cross browser compatible & as lightweight as possible.

Usage example:

$('#form_id').jQLiteID();

or to enable it for all forms:

$('form').jQLiteID();