A bit late, but this could also be useful. There is an IE filter, for IE 5.5+, which you can apply:
filter: progid:DXImageTransform.Microsoft.AlphaImageLoader( src='images/logo.gif', sizingMethod='scale'); -ms-filter: "progid:DXImageTransform.Microsoft.AlphaImageLoader( src='images/logo.gif', sizingMethod='scale')";
However, this scales the entire image to fit in the allocated area, so if you're using a sprite, this may cause issues.
Specification: AlphaImageLoader Filter @microsoft