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g1smd - 11:21 pm on Feb 18, 2006 (gmt 0)
The HTML code on-page becomes very light, renders quickly, and is much easier for bots to parse (and might just get a better position - I sense that every page that I have converted from HTML bloat (with nested tables, multiple <font> tags, etc) to semantic HTML, with CSS for styles, has jumped up in rankings within a week or so).
...and this all fits in neatly with the advice that I have often given, to mark up all content inside the block level elements of headings, paragraphs lists, tables, and forms, and then use CSS to style them.