I like the layout - clean and minimalistic, but I have 1 gripe.. The "Already a Member?" and "Lost Password?" text colors are bad choices. Go with something a little closer to the current color scheme (for instance, take the background color for that area, and bring up the brightness in it).
Now, for the code.. The real killer for web devs
First thing I noticed: No DOCTYPE!!! No character encoding! Those 2 are biggies - they tell the browser how to interpret the site and text, basically. I wish I had some good links to help you out on that, but I don't :/ Hopefully someone here has a good reference for it.
As well, tabular layouts are dirty. They are called tables because they are intended to display tabular data - such as spreadsheet stuff. They are really inefficient as far as layouts go - you can reduce your code like crazy using CSS and divs, and make it easier to manage! Check this link out: http://www.hotdesign.com/seybold/
Hope that helps