After playing around, I think here is a terminal session that shows how
to "make sure" the arguments are used locally.
>> use [ src text.align alt ] [ display|image: make function! [ src
text.align alt ]
[ [ rejoin [ {<IMG SRC="} src {" Align=} text.align { ALT="}
alt {">} ] ] ]
>> display|image http://www.fargonews.com/mac.jpg "center" "Internet
Startup Kit"
== {<IMG SRC="http://www.fargonews.com/mac.jpg" Align=center ALT=
"Internet Startup Kit">}
>> src: 1
== 1
>> text.align: 2
== 2
>> alt: 3
== 3
>> display|image http://www.fargonews.com/mac.jpg "center" "Internet
Startup Kit"
== {<IMG SRC="http://www.fargonews.com/mac.jpg" Align=center ALT=
"Internet Startup Kit">}
>> print src
1
>> print text.align
2
>> print alt
3
>>