[texhax] Centering an image with text

[Alistair Savage]

When I use the LaTeX code

\[
a \leftrightarrow \epsfig{file=diagram.eps}
\]

the bottom of the figure depicted in the file diagram.eps is aligned with the rest of the equation.  Is there a way to vertically center the figure around the  line determined by the rest of the equation?

Regards,
Alistair Savage
Max-Planck-Institut fur Mathematik