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Dabrowski - 2:45 pm on Oct 11, 2007 (gmt 0)
This title seems strange, why not use a JavaScript regex? The syntax is a little different than whatever you've used, Perl? Try this, it's untested but should work. If you're familliar with regex's you should recognise the syntax anyway. Note I've changed your double quotes to single for the purpose of containing it within another string. You can easily change src to value for the second one, or if you need to use it a lot, use a universal function to extract the parameter you want.
Using javascript instead of regex
var text="<img ... src='http://example.com/wigget/red-wigget.jpg' ...>";
text.replace( /^.*src='(.*?)'.*$/, "$1");
alert( text);