I can also remember the <marquee> tag, equally annoying. It's impossible to concentrate on the content of a page when something is moving in the corner of your eye. Luckily, back then I used Opera, which had the ability to make the marquee texts stop scrolling.
I know of commercial software that uses a marquee - god knows how it is implemented but is really annoying. It's a service desk system - presumably it is there to deter people from submitting requests.
That was really the most annoying tag. Blinking text was schlocky but usually minor in the context of the page. Marquees were long and annoying by design.