LRC to ASS/SSA and Back Again

[byteshare]

I've been learning a lot about Karaoke Lyrics these last few days. I was wondering if anyone could clear some things up and maybe give some advice.
I don't like .CDG (basically a graphics file) files but there are primarily what I have. Any new Karaoke song I create or when I want to create a Videoke (video with karaoke lyrics on top) I like the idea of using a subtitle like solution rather than having things hard coded "like" CDG files.
I couldn't find a way to convert CDG files to LRC or SSA/ASS files, but I know I can convert CDG files to text (using Karaoke CD+G Creator Pro) but I don't see how that is helpful without the timing, otherwise I can just get the lyrics online.
The Questions:
Is there a way to convert CDGs to something useable other than avi/mpeg files, such as LRC or ASS/SSA files? I think the answer is no. I have played around with sub converts (DVD subtitles), and I figured anything for those would be similarly clunky for CDG files, but I can't find anything that can make that conversion, only to a video file such as xvid in an .avi or mpeg2 in an .mpg file. I thought I found something, but it turns out their feature list is actually their wish list it was CD+Graphics Magic (CDGMagic.sourceforge.net). I did find a program that can do this with burned in subs, but I'd still lose the timing.

Would LRC or SSA/ASS be more likely to be future supported in products like XBMC (now Kodi) or VLC for Karaoke playback?

Also, if I locked myself in with LRC or SSA/ASS would I be stuck with either, as in I can't convert to the other without losing my timing? I didn't see any way to convert from one to the other without losing timing. If I were to be locked in I think SSA/ASS has more functionality but LRC might be more of a Karaoke standard in the future, but I don't know, which is why I asked two questions back.

Also, is there anyway to play an mp3 with a LRC or ASS/SSA or any other subtile standard? I couldn't find a way. My fail safe would be to use a blank video to get the subtitles to pull up.