I am currently working on trying to specify IE's (and now Safari's) drag and drop API.
However, from an HTML point of view, it doesn't make sense. Having a style property control application behaviour is wrong -- the fact that something is draggable isn't going to change depending on what the skin is. It's not even going to change based on the media -- something that's draggable (via a mouse) on a visual UA is still going to be draggable when the user is using an interactive aural agent (albeit with a radically different interaction model probably involving explicitly picking two elements and saying that the first is to be dragged to the second).
So there is currently no whole-element drag-and-drop API that we can conveniently re-use.
Controlling behavior through CSS is OK if the what you are changing is CSS.
It seems there two kinds of drag/drop. One kind affects the DOM, e.g. changing the order of items in a list. The other kind affects CSS, e.g. dragging a window on screen. For a draggable window only the CSS "left" and "top" positions would be a affected. It would be difficult to specify this without CSS!
Ideally, i'd like to do both. Use CSS to declare a draggable element and use HTML to declare a list that can be re-ordered.
-dean