Lists inside nav necessary?

Hi,

I often find myself building navigation like this:

```
<nav>
  <ul>
    <li><a href="…">…</a></li>
    <li><a href="…">…</a></li>
    <li><a href="…">…</a></li>
  <ul>
</nav>
```

That is: a flat list of links wrapped in li, ul, and nav. I keep
wondering whether there is actually any benefit over a simplified
structure like this:

```
<nav>
  <a href="…">…</a>
  <a href="…">…</a>
  <a href="…">…</a>
</nav>
``

That is: Just a nav containing links, without the list.

Do you have experience with this?

thanks
tobias