Background: I need to have an inline element to which I can apply width and height via CSS. AFAIK, img is the only way to have this behavior, currently.
I would rather not have the image point to a transarent pixel GIF on the server. It may be cached, but browsers queue it nevertheless, slowing down overall page speed. Other clients might not be caching at all.
PS: No, floating div is not sufficient, it behaves differently from inline elements.
EDIT: Sorry, I should have inserted the term "cross browser" somewhere. It must at least be working for FF>=2, IE>=7 and current Safari.