Sorry for the double post, merely a quick clarification :)

> There's a much better term for  it in the spec, but alas I'm 
> not in the mood for spec. trawling at the moment

The proper explaination is that floated elements without an intrinsic
width[1] must have one declared in CSS.

For a detailed run down on how margin's padding and dimensions
are/should be calculated in CSS2.1, check here:
http://www.w3.org/TR/CSS21/visudet.html#Computing_widths_and_margins

..and the CSS 2 Recommendation version:
http://www.w3.org/TR/REC-CSS2/visudet.html#Computing_widths_and_margins

[1] Intrinsic dimensions
The width and height as defined by the element itself, not imposed by
the surroundings. In CSS2 it is assumed that all replaced elements --
and only replaced elements -- come with intrinsic dimensions.
[ soure: http://www.w3.org/TR/REC-CSS2/conform.html#intrinsic ]

hope that helped,

Andrew.
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