I embedded an mp3 player which uses iframe tags on my site but it''s just below a drop down menu and the player is appearing above the menu when it drops down; This happens only in IE. I've tried positioning it relative and setting the z-index, I've tried the same with <object> tags and tried ALLOWTRANSPARENCY="true".......is it possible to set the z-index here? Below is a link to the issue.

http://lateralice.com/testMusic.html

You must set wmode=transparent on the FLASH file, either in the parameters or when the SWF is published.

I tried that, didn't work

The "allowtransparency" that you set above is not the same thing.