[bfgeek]

Sort of.

There is an endless array of divs which is absolutely positioned, ie:

<div id="container" style="top: -2920px"> <!-- endless array of divs --> </div>

The actual scrolling is performed by a 'dummy' div, has the same overflow. Some javascript will be listening to scroll events on this div, and updating the position of the above div.

This is typically done as scrolling 'floating' images on most browsers isn't smooth, & to 'jump' the scroll the correct amount to achieve the effect.