vertical-align (5.4.4)

I've been trying to find for some time a good way to adjust the position of
elements relative to the text around them - mainly so that we can place
equations such that the baseline inside an equation lines up with the
baseline of the text outside of it.  

In looking through the 11/12/96 CSS1 draft, it looks like using a
'vertical-align' in a style attribute to the object or image itself is the
best way (since the style is on a per-object rather than a per-document
basis).  My problem is that I can't verify this, because it looks like
'vertical-align' isn't implemented on any of the test platforms.  MSIE
doesn't seem to use ANY styles on <IMG> elements, and Arena Beta-3b doesn't
use the 'vertical-align' item anywhere (I tried to subscript text with it also).

The code I am using (within paragraph text) is:

<IMG STYLE="vertical-align: -20%" SRC="equation.gif">

Does this code look reasonable?  Is there a better way to accomplish the
same thing, or should there be a better way? Also, does anyone know of a
test platform where this would work?  If not, when do we expect it to be
added to Arena?
Jim King
Product Manager

Design Science, Inc.            Sales:   sales@mathtype.com
4028 Broadway                   Support: support@mathtype.com
Long Beach, CA 90803            
USA                             World Wide Web: 
voice: 310-433-0685                 http://www.mathtype.com
fax: 310-433-6969