Proper usage of span

I was using span within a paragraph, like so:
<.span class="product">product name<./span>   <.span
class="prod-description">description...<./span>

But when I have a structured description, I wind up putting paragraphs,
lists, and other block-level elements within the span:
<.span class="prod-description">
Description...
<.p>Important Note<./p>  <./span>

I want the description to continue on the same line as the product
name. That's why I continue using spans instead of divs. 

My question is:  should I NOT do this? It appears to work just fine,
though I'd welcome any contradictions. I know that span is intended for
inline elements, but the HTML 4.01 specs don't explicitly say this is
bad.

It seems to me that anything within the span tags, including any block
elements, should flow inline with the product name. And that's what
appears to happen. But is there any reason why I shouldn't put block
elements in span tags? 

The example (corporate) page is under active developement at: 
http://www.scanalytics.com/webtest/prices/Scanalytics_Gel_Prices.shtml

Thanks,
complex

=====
Note:  Any HTML I've typed probably contains spaces or periods to break it in HTML-capable mail readers. (e.g.   <.H1>Like This< /H1>  )

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