For a surprisingly long window of time, IE Mac was the best browser around. Apparently, it did not share a code base with Windows IE, which explains why IE Mac had all the features people were drooling over in 2001 like full PNG transparency and good CSS support. PNG support even included color correction, and IE Mac did not suffer from the "box model" bug that affected IE on Windows.
I think the Mac version of IE had something like 99% compliance on the first Acid test, before other browsers had robust CSS support. You could even find a copy of the Acid test in an easter egg in the browser.
It was a fantastic browser at the time, but didn't align with Microsoft's future interests and the development team was reassigned.