Thanks... I previously tried what you mentioned already
I best I can get so far... (and I will keep playing with it) is
DIV (outer): block, centered
DIV (inner): in-line block
IMG: inline-block, auto-margin, float-left
TXT: block, auto-margin, left-padding 10px
BUT - with this... you lose control of the Text element's Vertical Padding.
You cannot add / subtract padding from the top or bottom.
If you look real close - you can see space between bottom of the text and the bottom of the logo.
Some people would let this go...
but - I am one of those pixel perfect people who are extremely anal about their work.