How can I get form data with JavaScript/jQuery?

Question

Is there a simple, one-line way to get the data of a form as it would be if it was to be submitted in the classic HTML-only way?

For example:

Answer 1

Updated answer for 2014: HTML5 FormData does this

var formData = new FormData(document.querySelector('form'))

You can then post formData exactly as it is - it contains all names and values used in the form.