Improved autoBounds function for Tipsy.js that takes the size of the tooltip into account.

autoBoundsImproved.js

var autoBoundsImproved = function (margin, prefer) {
	return function () {
		var dir = {ns: prefer[0], ew: (prefer.length > 1 ? prefer[1] : false)},
			$document = $(document),
			$window = $(window),
			$this = $(this),
			$tip = $this.tipsy(true).$tip,
			options = $this.tipsy(true).options,
			marginTop, marginLeft, boundTop, boundLeft;

		marginTop = $tip.outerHeight() + margin;
		marginLeft = $tip.outerWidth() + margin;
		boundTop = $document.scrollTop() + marginTop;
		boundLeft = $document.scrollLeft() + marginLeft;

		if ($this.offset().top < boundTop) dir.ns = 'n';
		if ($this.offset().left < boundLeft) dir.ew = 'w';
		if ($window.width() + $document.scrollLeft() - $this.offset().left < marginLeft) dir.ew = 'e';
		if ($window.height() + $document.scrollTop() - $this.offset().top < marginTop) dir.ns = 's';

		return dir.ns + (dir.ew ? dir.ew : '');
	};
};

Just what I needed. I consider the old function really a bug!
P.S. You don't need the options here, so why include them?