Well, the title is a tad bit hyperbolic, but here are two ways that I think Microsoft could easily garner some really good will, and perhaps generate some true love for it again.
If done, either of these would make Internet Explorer the darling of web developers and designers out there.
The first way is probably unlikely, but I would give another toe to see it happen:
1. Swap the rendering engine with Gecko
Long term, this makes the most sense for Microsoft. They could very seriously profit from the open source communities hard work if they would drop the …