I am running K-Meleon NX-18116 in wine 1.1.2 (and crossover linux 7.0.2) in Puppy Linux Dingo 4.00. Even on my old p3 900 thinkpad it runs nicely, that is, it is responsive and reasonalby stable. Downloading works (usually), flash works, real alternative (and realplayer) both work. The stock wine 1.1.2 is windows xp and I haven't changed that or added any fonts, or anything else. Fred's enhancements (additional search engines and javascript button) gives this version another distinguishing feature. The privacy features should also appeal to linux users.
What doesn't work: trying to rearrange the toolbars crashes and doesn't work anyway for me.