Very interesting. So it includes the excerpt and then the first part of the content of the post? Wow. That's very neat.
I'm trying to reproduce what I have on my site in static html at Taking Your Camera on the Road. Scroll down past the announcements and you will see excerpt summaries that feature a picture and they float against each other so they will move with the screen width.
After looking at this some more, I see that I need to have the photo, title, and excerpt all within the first part of the IF statement. Separating the coding from the if/then statement is something I have to read up on - unless someone can make this easier. Right now, the title, author, filed under, and comments are out of the if/then little loop which escapes the CSS for excerpt. I want them inside....I never want anything really easy.
But I think when I'm done it will make for a great article examples of what can be done on the index.php!