We all know by now that there are 200+ Factors That Matter To Google (ftm2g).
In this case, any minute advantage of over-using bold will be more than compensated by the damage done in reader confusion.
A well made site will do well in Google; get good original content, and 150+ of those 200 will take care of themselves, and you'll sleep better at night.
Plus a warning: over-using ANYTHING may well be waving a red flag in Google's face. Let's face it; if they can count the B tags (and they can), then they can just as easily say "This Guy Is Taking The P***" (tgittp)
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