Since the last update, adding an image box seems to come with a default style (once outputted) for:
So as you can imagine the top of the image container contains 204px of unwanted space.
Happens even with caption off box resized etc.
Have worked around it by changing global css to make top margin 0px for that div and style, but might be worth investigating to see if this is a bug or of its specific to my setup.
Ill do my own investigating soon but no time at the moment