Get people picker value using Javascript

Usage: The following javascript will return the current name value of a specific people picker on a SharePoint form page
Parameter: People picker number, which is the order of the people picker on the page.
Returns: Name of the person or group, not the internal domain name.

function getPickerInputElement(pickerNo) {
 var result = "";
 var j = 0;
 var divs = document.getElementsByTagName("DIV");

 for (var i=0; i
   if (divs[i].id.indexOf("UserField_upLevelDiv") > 0) {
     j++;
     if (j == pickerNo) {
       result = divs[i];
       break;
     }
   }
 }
 return result;
}

// Example: calling the function, where 1 indicates the first people picker on the page
var objPeoplePicker = getPickerInputElement(1);

// Example: getting people picker value
var employeeName = objPeoplePicker.innerText;

// Example: putting a new value to the people picker field
objPeoplePicker.innerText = "Peter Parker";

[Updated: 5/6/2012] Fixed for loop.