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If content within a <dt> cannot be flagged as a heading, it cannot be given “heading” importance within the document hierarchy. Also, Google and other search engines will not index definition list content in the same way that they do for heading-based content.
How Do Search Engines View Lists?
Good question.
Check your referrals to see if words in lists are ever words counted in referrals. I suspect they aren't weighed more or less than regular text.
This is tweaky. I'm not tweaky, so I don't put much thought to it. That's my temperament.
Anybody else have thoughts about this?
I haven't seen anyone place any importance to lists and can't see what they convey in terms of SE ranking other than the mark of an organised mind :)
If you haven't seen it, look up an old thread called something like Brett's Quick Rank (good). It lists the numeric scores a few WWers have placed on various elements.