Actually, it turns out tabbing works ok if I just set \topsep and \partopsep to 0 before the tabbing environment.  Here's the latest sample, with a gray background to show where the right hand text should go:<div><br></div>
<div><div>\documentclass[letterpaper]{article}</div><div>\usepackage[absolute]{textpos}</div><div>\usepackage{settobox}</div><div>\usepackage{soul}</div><div>\usepackage{xcolor}</div><div>\setlength{\TPHorizModule}{1bp}</div>
<div>\setlength{\TPVertModule}{\TPHorizModule}</div><div>\setlength{\parindent}{0pt}</div><div>\setlength{\unitlength}{1bp}</div><div>\pagestyle{empty}</div><div>\usepackage[paperwidth=252.000000bp,paperheight=144.000000bp]{geometry}</div>
<div><br></div><div>\begin{document}</div><div><br></div><div>\raggedright</div><div>\fontsize{7.000000}{9.000000}\selectfont{}</div><div>\begin{textblock}{96}(36,76)</div><div>This is several lines of text on the left side of the card.  The lines</div>
<div>should align with the tabbed environment on the right.</div><div>\end{textblock}</div><div><br></div><div>\begin{textblock}{67.5}(144,76)</div><div>{\color[cmyk]{0,0,0,0.15}\rule{67.5bp}{48bp}}</div><div>\end{textblock}</div>
<div><br></div><div>\begin{textblock}{67.5}(144,76)</div><div><br></div><div>\setlength{\topsep}{0pt}</div><div>\setlength{\partopsep}{0pt}</div><div>\begin{tabbing}</div><div>\hspace*{47bp} \= \kill</div><div>{248.358.4420}\> {office}\\</div>
<div>{123.456.7891}\> {direct}\\</div><div>{123.456.7892}\> {cell}\\</div><div>{248.358.1969}\> {fax}</div><div>\end{tabbing}</div><div><br></div><div>\end{textblock}</div><div><br></div><div>\end{document}</div>
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