jennyj - 1:51 pm on May 5, 2011 (gmt 0)

Depends on how your site is structured, a low bounce rate could mean that your visitors are not finding what they want straight away and are blundering around your site clicking on links in an attempt to find the information they are looking for.
One site I look after has an exceptionally high bounce rate - but it does not bother me. The reason? The site in question is an ecommerce site where a customer will only ever buy one product (wedding industry), they land on the details page and buy from that page. Thus by definition, bounce rate will be through the roof. As long as the sales keep rolling in, bounce rate has no impact on how well the site is doing