As part of my full-time job, I create and publish tutorial documents and videos of a technical nature that are viewed by students, staff, and faculty. It's important that these videos are clear, instructive, and easy to follow, and a correctly spelled and punctuated subtitle file is essential to that task.
If I understand correctly, you're looking for the subtitles to be corrected for spelling, grammar, and punctuation, but also to match the speaker as he speaks. When working with the text file, only the words are to be bodied, not the timestamps (as that would disrupt or destroy YouTube's ability to place subtitles correctly).
If you have a preference, I could use whichever software you prefer to edit the attached .txt file (TextEdit on OS X, Notepad on Windows, etc).
I am well-suited to and capable of this task. Please consider my bid for your project and feel free to contact me with any questions or concerns.