I'd say yes, a UISlider is your best friend. That's what iPod uses, too. You'll have to modify t a bit to indicate the progress visually.
Make a timer that polls the position of your playback and updates the slider's value accordingly.
You might make the slider's minimum value 0 and the maximum value the time of the playback in seconds.
Have a look at this post here on Stack Overflow, it has a pretty good demonstration: UISlider with ProgressView combined
