At the moment and for the next few days (maybe weeks) only parseLocal will be available as I am going to write all the parsers then apply the remote system
jQuery Microformats is an in development jQuery plugin for parsing local and remote documents for microformats.
This code loops through all hCards on the page and alerts their name.
$.microformats.parseLocal({microformats: 'hCard'});
$.each($.microformats.hCards, function() {
alert(this.fn);
});