Looks the same to me in both browsers with much vertical spacing. You have many unclosed <p elements. Like about 30 of them. They need </p> tags at the end of each ones content:
<p style="text-align: left"><font face="Arial" style="font-size: 8pt; font-weight: 700" color="#FF9900">
<img border="0" src="spacer.gif"> <a href="monitor.htm"><font face="Arial" style="font-size: 8pt; font-weight: 700; text-decoration:none">
Server Monitoring</font></a></p>
Also, for closer vertical spacing, try using the <div> </div> tagset instead, it can have the same alignment attributes and/or style as a <p> tag but has a smaller top and bottom default margin.