html5 & Breadcrumbs

[Danny@BFC]

I've seen a few members who are marking up in html5 and wanted to ask your opinions on the best way of marking up breadcrumbs (if you are).

i.e: just plain inline links.(in a <p>)
A styled <nav> inside its own "breadcrumb" <section> using an <ul>.
or something else (like <menu> etc?)

Thanks

Danny:)