I can't duplicate that on this end, folgerwan. The BlackBerry Bold 9650 emulator is working just fine for me. The closest OS I could get on the developer site was 188.8.131.521, so it's not exact. Here's a screenshot:
So I'm not sure it's related to your model. It might have something to do with your particular setup. Can you update your browser or OS? I don't have a BlackBerry so I'm not sure how complicated that is.
We just updated the mobile site to use jQuery Mobile Alpha 4. This update adds support for Windows Phone 7. No changes on the Blackberry front, but they say they're focusing there next: "...will be focusing on increasing our device support to include Blackberry 5 and Symbian S60..."
So things should be getting better for BB 5 folks down the road.