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I've used a spider simulator tool and the results showed our site's drop down menu was spidered. The words from the drop down list appear on our page as well. The keywords meta tag is not as important as it used to be for ranking.
Here's a link to Brett's Search Engine Spider Simulator, try using it on your site to see spidering results:
I'm not sure this keyword method would help in terms of ranking. Anyone else have experiences with improvement this way?
Enjoy the forums, I've found everyone here to be very supportive and friendly.