In that case, by all means explore HTML5. But realize that you are not following the path already laid, but helping to lay the path! The HTML5 website points out strongly that anyone trying to use the draft without also belonging to the discussions will find it shifting out from under them.
So sign up with that group and participate in the discussion. Explore some open issues in your experimental code, and share the results with the group. Not only will you get a grade, you will make real contributions to the project!
What kind of Master's is it? Mine was all math, like spending a whole semester following one complexity proof.