I have just finished relaunching Oasismag.com on a drupal 4.4.0 stable release, and my PHPTemplate theme.. The site is 100% table layout free, and completely configurable thanks to the template engine (or lack there of).
I just relaunched my site for the third time. This time I chose Drupal, and converted all my content from custom programmed pages using PHP, and Smarty for templating functionality. So far I'm pretty happy with Drupal, and might consider creating some modules for it, if/when the need arises. I still have some browser related layout issues that need to be resolved. Please let me know what you think.