tedster - 4:15 pm on May 15, 2010 (gmt 0)
ranking top on page 1 but no traffic
Have you checked the top of the "Queries" report in WebmasterTools? Click on "more" and then click on "+" next to the search phrase in question. You'll see if Google is registering any impressions and what they see for the number of clicks you get.
It sounds like, no matter what you are seeing from your browser, others are either seeing different results or possibly few people are searching that term. Either way, WMT will give you some data that may help you understand the situation.