First 10 seconds it's a nice watch, but every second beyond is boring.
To accomplish that just with javascript / jQuery, one would need to load & cache like 500 images. I'd create an object/class for each image which stores coordinates, rotating angle, speed, img source etc. and finally fire those into some animating object/class.
Looks very possible with javascript, but I guess just the DOM is too damn slow to handle this, so your only choice here can be canvas. Since you mentioned just to use HTML4 I don't think this is a task which can be fairly done.
Actually I would recommend a library like raphael or cakejs, but again, all those are using HTML5 canvas to render images.