Figured it out while posting my code...
In my code:
* {
padding: 0px;
margin: auto;
font-family: Tahoma;
line-height: 1.2;
}
I set the margin for everything to be auto by default, making IE7 render a different value other than 0px. By setting it to 0px for the margin-top property, it gets rid of the extra space at the top of the title bar and fixes the cutting off problem.