This version allows you the benefits of the start attribute for ol and value attribute for li. This is better because sometimes a list item isn't 1, A, a or some such thing, and you shouldn't need style sheets to change it. This is a content issue, not a styling issue.
See http://www.w3.org/TR/html4/struct/lists.html#h-10.2 for more information. They are deprecated according to those standards, but I undeprecated it.
Any requests for better standards? I'm planning on a 2.0 version soon, and perhaps even a GeoCities web site to be the home for this project. It just depends on if anybody is interested in using it. 1.* will differ from 2.* in that 1.* will always try to use features which are already available in modern browsers, while 2.* will plug ahead and create new standards that aren't available yet. This means that in the future, when new features are added to browsers, then I'll be most interested in incorporating them into 1.*. Both will use the standard HTML rules for elements. 3.* will begin to use XHTML rules.