Of course the title is a little joke because the alternate0 theme is not a really well developed theme out of the box. It is not widget-ready, it's set to a fixed-width of 700px, there is garbage hard-coded into the sidebar.php and the comments.php, and the blog path is also hard-coded in the sidebar.php (so, if your blopath is not /blog the Categories drop-down will not work). The links in the header.php are also hard-coded. It's crazy.
One thing I haven't gotten deep enough into is why when alignleft is chosen the text does not wrap around the image. BTW the CSS also does not have the "mandatory" alignleft, alignright, aligncenter, and wp-caption classes written into it. When I add alignleft to the CSS it makes the posts cascade as well as making the text wrap next to the image. Gotta figure that out at some point.
Take a look at this site and if you want to use this theme I will take out the hard-coded calendar link in the header and the "For purchasing inquiries" text (everything else is legit) and post it as a zip file.