Why do we use <ul>/<li> for page layout (namely navigation)

[Funny Guy]

Just wondering. To me it feels like clunky formatting. I just use floated DIVs for my navigation bars, but I see a lot of people using lists. Is there any specific reason why?

[Fang]

Semantics. Navigation is a list of links. Screen readers can also say that a list appears in the document.
div has little or no semantic meaning.