I think the design is very nice.

The main thing I'd recommend is using CSS to tidy up the code, but hey - it's not code I'm going to be developing, so whatever suits you more.
Maybe it would be a good idea to use a <div style="width: 813px; height: 406px; overflow: auto;"> to deal with the scrolling part of the page. Frames lead to unpredictable behaviour of the browser, like back buttons not working and if you wanted to include Javascript, you could easily get into strife.

EDIT: The current code does adhere to web standards. The only thing that is missing is the DOCTYPE declaration at the top of the source, but that in no way affects the rendering of the page.