New Admin Editor Bug:
In HTML5, the li and p tags are not required to have closing tags. However, If you add code like below, the editor wrongly alters your code by adding closing tags to the li elements anyway after saving:
<ul>
<li>One
<li>Two
<li>Three
</ul>
You can confirm this problem by opening the file using the Develop tab editor. (Don't do a DOM Inspection in the browser because it will always appear to show the closing tag. You would have to choose View Source.)
Altering the code like this should never happen. This is especially bad because for modern responsive web layouts which use inline-block or inline-table instead of floats, the preferred and only non-hacky way of getting rid of the extra space between the list items is to just not add the closing tags. In BC apparently you can't do that. BC's admin editor forces the designer to use floats or hacks if you want to use it.
No admin editor should ever require you to use floats for layout. The current ICE editor has the same buggy behavior.