Vertical align doesn't quite work the way you want it to. See: http://phrogz.net/css/vertical-align/index.html
This isn't pretty, but it WILL do what you want: Vertical align behaves as expected only when used in a table cell.
There are other alternatives: You can declare things as tables or table cells within CSS to make them behave as desired, for example. Margins and positioning can sometimes be played with to get the same effect. None of the solutions are terrible pretty, though.