Kasia has a great write up on her Adventures in browser-land, head over and read it. I pretty much agree with everything and have ranted about it before, both on the web and in person. I love the analogy of MS as a drug dealer dealing out "broken html". Personally I think that if IE was faciastly stringant in their rendering the world would be a better place (well, on the web anyway). Well, that and having any web designer that has ever put up a "browser detection + this page only works in IE" page drawn and quartered.
Now to wait for the flood of "but IE is so much more standards compliant!" comments from the peanut gallery :)