So the only overflow value that internet explorer failed to implement is visible (see QuirksMode). But default is visible and that works according to PPK, right? Yeah, right if you're talking about text overflowing vertically, but wrong if you want an image to overflow horizontally into the margins.
<p style="position: relative; height: 91px;">
<img style="position: absolute;" src="/photos/kukri.jpg" width="422" height="91" />
</p>
It's a total hack. You take the image out of the flow by setting it to position: absolute; (within the relatively positioned paragraph, see Douglas Bowman's Making the Absolute, Relative) and then make room in the flow by specifying a height for the paragraph. Although it does involve some inline markup it's actually fairly sustainable. On a site I'm doing at work I have a project manager writing HTML, whenever she has an image that could be too wide she gives the paragraph a class="wideimage" and specifies the height.