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Not A Bug :)
I figured out bug #4 from this post. It was my own fault.
The spec says that the default value of 'width' is 'auto'. This causes the margins to be set to zero:
So if you want to center a block element, you also need to set the 'width' to something other than 'auto':
I can't find any way to center an image (IMG isn't a block element) other than wrapping it in a block element (such as DIV) and specifying the width in the DIV.