The hr below has color:red and background-color:blue and browser default border.

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Text below hr

The hr below has color:blue, background-color:blue, border:none and a 10px top and bottom margin applied via css. IE7 and IE6 add an extra 8px of their own.

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Text below hr

The hr below is as previous, plus conditional css for IE7 and IE6 to compensate for the extra 8px.

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Text below hr