Set or Fetch a HTML5 Placeholder without backwards compatibility for older browsers

$.fn.placeholder.js

/**
 * Set or Fetch a HTML5 Placeholder
 * without backwards compatibility for older browsers
 * @author Benjamin Arthur Lupton
 * @license Public Domain
 */
$.fn.placeholder = $.fn.placeholder||function(placeholder) {
	// Prepare
	var $input = $(this);

	// Check
	if ( typeof placeholder === 'undefined' ) {
		return $input.attr('placeholder')||$input.attr('title');
	}

	// Config
	var
		config = {
			hasClass: 'sparkle-hint-has',
			hintedClass: 'sparkle-hint-hinted',
		};

	// Events
	var events = {
		focusEvent: function(){
			var $input = $(this);
			var tip = $input.placeholder();
			var val = $input.val();
			// Handle
			if (tip === val) {
				$input.val('').removeClass(config.hintedClass);
			}
			// Done
			return true;
		},
		blurEvent: function(){
			var $input = $(this);
			var tip = $input.placeholder();
			var val = $input.val();
			// Handle
			if (tip === val || !val) {
				$input.val('').addClass(config.hintedClass).val(tip);
			}
			// Done
			return true;
		},
		submitEvent: function(){
			$(this).find('input.'+config.hasClass).trigger('focus');
		}
	};

	// Apply
	if ( typeof Modernizr !== 'undefined' && Modernizr.input.placeholder ) {
		// We Support HTML5 Hinting
		// Set the placeholder as the title if the placeholder does not exist
		// We could use a filter selector, however we believe this should be faster - not benchmarked though
		$input.attr('title',placeholder).attr('placeholder',placeholder);
	}
	else {
		// We Support Javascript Hinting
		$input.attr('title',placeholder).attr('placeholder',placeholder);
		$input.once('focus',events.focusEvent).once('blur',events.blurEvent).trigger('blur');
		$input.parents('form').once('submit',events.submitEvent);
	}

	// Chain
	return $input;
};

Requires modernizr:
http://www.modernizr.com/