How to get text of an input text box during onKeyPress?

Keep it simple. Use both onKeyPress() and onKeyUp():

<input id="edValue" type="text" onKeyPress="edValueKeyPress()" onKeyUp="edValueKeyPress()">

This takes care of getting the most updated string value (after key up) and also updates if the user holds down a key.

jsfiddle: http://jsfiddle.net/VDd6C/8/