Is this a box model problem?

[David Ehmer]

This layout seems to work in most browsers I've tested so far, with the
exception of IE5.5 and IE6.

http://www.boatingaccessories.com.au/boating_accessories_shop/template.asp

If it was just IE5.5 I would think it was the box model inconsistency
causing the curved image at the top left of the content area to be
vertically mis-aligned by 3px.

The image is relatively positioned. Mozilla, Firefox, Opera render in the
position intended.

I have a feeling things are astray in IE5 for the Mac. Can anyone confirm
the problems there?

Appreciate any clues re: what's happening here

Thanks
David