There are three concepts that might help you. Google [keyword] site:webmasterworld.com for many threads on semantics, tableless, deprecated.
Semantics are important because documents are meant to have a particular structure:
paragraph . . . .
True, two break tags add a space like a paragraph does, without adding space above. Visually, it does the same thing. But beneath it all, it's a poor approach to constructing a semantic document. By approaching the document from a semantic viewpoint instead of presentational, you begin to understand why a break tag is like a wedge holding up the house, when what you really need is a foundation.
The font tag has been deprecated since (I believe) 1999. I am still amazed that WYSIWYG editors still generate this element.
The concept of semantics leads to tableless layouts as well. Using tables for layout is a topic of high debate, but the bottom line is that it makes for documents with poor semantic structure. When a table is encountered, it should be tabular data.
So using your example:
<td width="300"><p><span class="ContentText"><font size="2" color="#000066" . . . . . . </span></p></td>
Creating an equivalent, semantic approach is easier than you think: