With HTML5 you also have to worry about the cross browser compatibility mess , which doesn't seem to work well as "rapid" development. Not to mention that I think writing something like a scene graph in JS would make me rage.
Either the browser supports canvas or not. It's not much more mess than that and definitely not as messy as making a normal website cross compatible.
The whole game is built upon SVG, CSS3 (transform3d) and CoffeeScript and it works pretty fine, even on the iPad which is also the target platform. The limiting factor with this combination is the number of DOM elements. We are currently considering to render our racing tracks as a single image so we can remove the several SVG paths we currently use for this.
If you want to take a look you can find the source on GitHub[1] or play the game[2]. Currently only Chrome and iPad are supported. But that's only because we haven't added all vendor prefixes yet.
[1] https://github.com/stravid/slotcars [2] http://slotcars.herokuapp.com/