I suppose it's run with a src, a width or a height ? What do you exactly want to do ?
It seems curious to want to reload the same image, if any with a query sign after the suffix(*), all the 5 milliseconds, which is a very short delay ?
The replace, with a callback function replace, a myImage.jpg?(...) with a myImage.jpg?Thue jan 24 2012 15:15:15 GMT+0100 which is a not valid address a new Date().getTime() or new Date().valueOf() could be better to reload effectively the image ?
Add, if necessary, an unique dimension of the image (the width or height to preserve the proportions). It probably not possible to decrease the delay (1000 milliseconds or one second now) to build a cartoons : more than 16 images per seconds and a delay less than 67 milliseconds
(*) This question mark followed by a variable number force the reload of the image which seems different of the previous one.
I'm using basically the same code as you posted (with a much longer refresh rate) to display webcam images and it works fine for me in all browsers, except that in IE and Chrome only part of the image is displayed. The original image is larger than the iframe that I display it in but in Firefox it reduces to fit, which is great. Any idea why only part of the image displays in IE and Chrome?