You should change the name to "whitespace rendering sucks" because it does.  Just last night I ran into the issue this:

<img src="a.gif" alt="" />
<img src="b.gif" alt="" />

caused the images to have a space between them and in order to make them flush I had to change it to this:

<img src="a.gif" alt="" /><img src="b.gif" alt="" />

There's no seperation of layout/style and content there.