A: 

You will need an 1px high image slice for the transperncy and one for the rounded corders at the bottom

.background{
    background:url(/image/path);
}
.wrapper{
    background:url(/image/path/trans.png) repeat-y; 
    width:500px; 
    position:relative;
 }
.wrapper .bottom{
     background:url(path/to/image) no-repeat; 
     position:absolute; 
     bottom:0; 
     left:0; 
     height:20px;
}

.inner{
    background:#fff; 
    margin:10px;
}

I have made the widths and margins up. You should put in the right sizes yourself

Cato Johnston
+1  A: 
#body {background: transparent url(background/image.png) 0 0 repeat-y;
}

#content-wrap {width: 60%;
               margin: 0 auto;
               background: transparent url(partially/transparent/60percent-opaque.png) 0 0 repeat;

}

#main-content {width: 90%;
               margin: 1em auto 0 auto;
               background-color: #fff;
}

#footer       {width: 90%;
               margin: 1em auto 0 auto;
               background-color: #fff;
}

This sets a partially-transparent .png image as the background for the #content-wrap section, with a solid color background for the divs (I've used #main-content and #footer, but they've got the same style so you could just use #content-wrap div and shorten the css a little.

<div id="content-wrap">
<!-- this is the outer wrapping div -->

<div id="main-content">

<!-- this I'm assuming is the main content portion -->

</div>

<div id="footer">

<!-- the name explains my assumption, I think... -->

</div>

</div>

...if you know that your audience will be using FF3.x (and probably webkit based browsers), you could use background-color: rgba(0,0,0, 0.6); to define the background-colour (red=0, green=0, blue=0, alpha=0.4 or 40% opaque (or 60% transparent) -the values being between 0 (entirely transparent) and 1 (entirely opaque).)

Using the rgba for colour prevents problems from using opacity to make the parent div transparent, while trying to make the children visible. But it's got limited use because of browser adoption, of course...

A working demo is over at my site: http://www.davidrhysthomas.co.uk/so/transparent.html

David Thomas
What about the rounded corners at the bottom of the wrapper?
Cato Johnston
Do you just want the rounded corners on the bottom of the wrapper?
David Thomas
Thanks to both of you, you answered my question. This is the solution I thought would work but wasn't sure. BTW, is there an "optimal" size of the image that I will make transparent (and repeat as background)? I mean is it slower to load a 1x1px image? (Because it has to be repeated many more times than, say a 10x10px image) Maybe the performance difference is so small that it doesn't matter?Thanks again for the answer.
mdc
The optimal image size is a balance between ensuring it's easy to download (small file size, optimized and so on), and large enough to avoid the browser slowing down while it repeats the image. My inclination would be an image of around 20 * 20px, but there's no absolute 'right' answer.
David Thomas