You realize that if it were only to recognize speech, other players would have a significant time advantage because they can read the text in probably 1/10th of the time it takes the host to speak the question out loud. "Feeding" Watson the text is just another way of saying Watson "reads" the text displayed on the screen, just like every human is allowed to.
Yeah, OCR (optical character recognition) would probably be used for reading the questions. The speech recognition would be for listening to other people's answers so as not to duplicate wrong answers.
Well is the text "fed" in a word at a time, or the whole question as a block that takes nanoseconds to parse. That's an unfair advantage if so because because the computer is getting the data in a different format than the other contestants, who are handicapped since they have to preprocess the data in a way the computer doesn't because it has been preprocessed in advance for it.
How are the two situations any different? Just because a program has an entire block of text in memory doesn't mean that it can instantaneously build all the data structures needed to process and make sense of it. We both "read," Watson's "reading" just takes place in its code.
It's very different. The humans have to decode the visual and aural representations before parsing for meaning can commence. The computer should have to do this too, but that step has been done in advance for the computer. This gives the computer a time advantage not because it was faster at computing, but because necessary computing was removed in advance from its task.