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We use a combination of divs and tables.
The main problem with divs is that img into them are not downloaded in sequential way, while with tables you can control what will show first on the surfer browser and what will not.
We also use compression to send all the html to the surfer as fast as possible.
In any case, you can achieve the same crap rendering speeds with tables and with divs. From all our tests, the fastest way is a combination of divs + tables.
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