correct. This would be a cleaner approach that would provide the most adaptability down the line.

Nice implementation. But don't forget RFC3986: # may also be a delimiter tools.ietf.org/html/rfc3986

You could also use constructor chaining over an init() method. It'll make you look cool at cocktail parties.csharp411.com/constructor-chaining

Good call on identifying things that shouldn't be done. The rationale, however, is lacking. The point of <strong> and <em> is not to get bold text and italicized text. You can overwrite the default behavior with CSS. The point is to add semantic meaning so that intelligent queries can be done.

I would question the semantics here. <strong> could work as well. <em> should also be used over <i>. I would personally never remove unique identifiers from elements, as the flexibility of being able to style/jQuery a specific element is more efficient than navigating through a list. But a class is a good idea if styles will be reused for many images.