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Thanks for the reply. No harm in advertising something that works. I will give the subcaption package a try, and most likely being submitting a bug to the maintainer of subfig.

Here is what the problem looks like. I have been searching around online and can't seem to find any explanation as to why this is happening.
alignment-figure-table-01.png
This is what it looks like if I add an hline at the end of the table. Notice how the captions are properly aligned.
alignment ...

I'm somewhat new to latex, so this is probably some simple misunderstanding, but I am trying to create a figure with a subfloat figure and a subfloat table side-by-side. However I am having difficulties making the captions align properly

When I compile the following code the caption for the table ...