Hi,
I had to solve this issue today for a client. I used an OnClick event on the IMG element to make it work. So my HTML looks like this:
<p>
<a class="NoLinkBorder" href="/weddings.aspx"><img alt="WeddingPhoto" height="117" onclick="location.href='/weddings.aspx';" src="/Data/Sites/1/media/ADs/WeddingAd.jpg" width="172" /></a>
</p>
<p>
<a href="http://www.facebook.com/"><img alt="Join us on Facebook" height="118" onclick="location.href='http://www.facebook.com';" src="/Data/Sites/1/media/ADs/FacebookAd.jpg" width="172" /></a>
</p>
By keeping the HTML anchors in place, the browser will display the correct mouse cursor and the links will still work if JavaScript is not enabled.
Hope this helps someone,
Joe D.