I recently discovered a amazingly easy way to do DIV Overlay's on Myspace's 2.0 profiles, Myspace recently released a HTML box module, so basically you can just hide or delete all modules on your page, and hide the basic info module by inserting this script into the CSS box.
div.basicInfoModule {display:none;}
Than you would activate the HTML box on your profile, design your layout in photoshop, and than you wanna save for web (HTML and Images), and upload your images to wherever, and replace the image locations in your HTML doc so your layout is web ready, and copy and paste your HTML document into your HTML module, and done.