Android on Galaxy seems to ignore them.
From this thread, it doesn't seem to be a 1.5 issue only:
MP3 Tags
The music player will only recognize my id3v1 tags, and those were sketchy to begin with. First of all, I don't think id3v1 supports utf-8 unicode, so I need to change my computer encoding because I don't have a good way to change the encoding for a specific file.
It will show up as Unknown Artist/Unknown Album if there are no id3v1 tags.
Other than that the music player is awesome.