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I’m with Dustin: strong and em tags are good for showing the user where in the navigation they are when CSS isn’t present.
I’m half with Lach and half with Drew. I agree that, within a multi-page section of a website, that section’s navigation link should be present so that the user can get back to that section’s home page.
However, having a link on a page to the page you’re on is a bit redundant (as it doesn’t take the user anywhere), and can be confusing: if the user clicks on it, they may see the page reload, and thus might think they’ve gone somewhere else, even though they haven’t. This is (dareI speak his name?) Jakob’s position: http://www.useit.com/alertbox/20031110.html (see guideline 10).
I haven’t done any user observation on this particular point, so I’m not sure. My gut tells me to avoid links to the current page where possible.