The other answers are great but I thought I'd take a different tact.
If all you are really looking for is to slow down a specific file in linux:
rm slowfile; mkfifo slowfile; perl -e 'select STDOUT; $| = 1; while(<>) {print $_; sleep(1) if (($ii++ % 5) == 0); }' myfile > slowfile &
node myprog slowfile
This will sleep 1 sec every five lines. The node program will go as slow as the writer. If it is doing other things they will continue at normal speed.
The mkfifo creates a first-in-first-out pipe. It's what makes this work. The perl line will write as fast as you want. The $|=1 says don't buffer the output.