You can also add a polyfil to enable native opacity usage in IE6-8.
https://github.com/bladeSk/internet-explorer-opacity-polyfill
This is a stand alone polyfil that does not require jQuery or other libraries. There are several small caveats it does not operate on in-line styles and for any style sheets that need opacity polyfil'd they must adhere to the same-origin security policy.
Usage is dead simple
<!--[if lte IE 8]>
<script src="jquery.ie-opacity-polyfill.js"></script>
<![endif]-->
<style>
a.transparentLink { opacity: 0.5; }
</style>
<a class="transparentLink" href="#"> foo </a>