Here are the fractions you can create with character entities:
¼, ½, ¾.
And here are a few fractions created with some fancy XHTML and CSS handiwork:
8/15, 3/94, 9/16, 44/45, 1/99.
The differences are minute, meaning you could easily combine character entities when available and relative-positioned fractions when required, and your audience would never be the wiser.