John, the Netscape/italics oddity has ALWAYS been a problem -- it's not new. Netscape users have complained forever about italics being left on, but ONLY THEY can see them. Neither IE nor Netscape ever figured it out. :-)
If you don't have that version, you will suffer problems. Long ago, I learned that this is the best version of Netscape, and still have few problems with it.
NOTE carefully - 4.76 demands that all tags be closed. MSIE takes the time to auto-close all tags no matter how sloppy the original html is, as well as second-guessing what the original might have 'meant' - slowing the browser considerably.