This is the guideline that I did my presentation on, so while I'm no expert I do remeber some basic points. The screen readers, or user agents, may not have the capability yet to disable moving text or flickering content. So make sure develop the website following these guidelines so its easily accessible for all users. Plus movement on the page may become such a distraction from the rest of the page as to make it entirely unreadable/usable. 7.1 is a priority 1, the rest are priority 2.
Until user agents allow users to control flickering, avoid causing the screen to flicker. Also note that people with photosensitive epilepsy can have seizures triggered by flickering or flashing in the 4 to 59 flashes per second range!The BLINK and MARQUEE elements are not defined in any W3C HTML specification and should not be used.
Source: http://www.w3.org/TR/WCAG10/#gl-movement