A table-less design works 100% but it depends entirely on how it's coded. My own site will be 10 years old this year and it's been table-less for more than 5 years now. It also passes WCAG-AAA by the new 2.0 standards.

There are some really good sites to learn table-less design from if you're really interested. For example, CSS Zen Garden, and a friend of mine owns a site that he offers free table-less layouts here at Search Engine Friendly Layouts.

Another site that is worth checking out is Access Sites. They showcase web accessible sites that use table-less design and pass web accessibility guidelines. Hope these resources are able to provide some help for someone. :)