I know placing all your styles in a CSS file is the best thing to do as it is a lot neater.
But does it REALLY matter if the styles are inline or i
When creating master pages I use in-line styles to create the basic layout of the page. For instance I include all of the styles that position the header at the top of the page, main content in the middle and footer at the bottom. Pretty much every style attribute related to positioning, I include in the masterpage as an inline style.