Create unordered lists from lines of text using Emmet in Sublime text 2

Designers and developers of web sites often find they're having to convert text into HTML at the micro level despite all the tools we have available. Here is just one example of how Sublime Text 2 with the Emmet plugin can help. You may have to use alternative keys for macs.
Let's say we have 10 lines of text that we want turning into a HTML unordered list. OK, with Emmet we can select all the lines and wrap them with <ul></ul> using ctrl+alt+enter and typing ul, then enter again.
What we don't want to do from here is have to select each line individually, then press ctrl+alt+enter and typing li, then enter again.
What we can do is select all the lines, then ctrl+shift+l to split the selection into lines, then press ctrl+alt+enter and typing li, then enter again.
As you can imagine, this technique is useful across other circumstances where we have the text, but need to turn it into HTML.