On Ubuntu Linux when trying to install IEs 4 Linux I had an Wine error 'wine does not have wineprefixcreate installed'. A search lead me to the Wine forum and there I found that IEs 4 Linux isn't supported to run under Wine.
In the Wine forum [forum.winehq.org] I was directed to Wine Tricks [wiki.winehq.org ] and was able to install a 'limited' copy of Internet Explorer 6.x. By 'limited' it means no java-script support and 'Internet Options' isn't directly configurable. The Wine Registry editor is similar to Windows.
edit 9:45pm est
Wine Tricks also supports installing Internet Explorer 7.x as well.