I'm not sure if this is possible or not, but I thought I'd ask...
Is it possible to not have a playlist, but instead have the images and captions (html files with the same name as the photo) be pulled from a folder? It would make updating images a breeze...

Having a simple cgi-script, php-script (or whatever your webserver allows to use) that creates a playlist from the images using the captions would allow to do that without the need to change the player.