LI's are not inline elements. There are cases when DIV's inside LI's make total sense. For example:
The XHTML 1.0 Strict Validator sorts this out for me.
You can have a <ul> <li> inside a <table> and a <div> and a <P> and you can access them with css.
I have just realized ho difficult it is to add video compatible to popular browsers and formats.
I am using HTML 5 <video> Tag, I have to say they are on the right track with this one.
For all I have seen of embed and object and all the nasty writing you have to do, I am much happier just making a few extra copies with my converter and using <video> tag.
Thanks HTML 5, you may have saved the web jostling corporates, my faith is resumed.