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Our site is doing the same. EZWatch-Security-Cameras.com Restructuring allows you to organize your content into "Silos" and eliminate some of the unnecessary links through JSON objects, iframes, and nofollows (some debate there on which is optimal). The Downfalls: There will probably be a 30-90 day dip in traffic but if you do page-to-page 301's it won't hurt nearly as much. Anytime you change URL's you are likely to see some inbound links drop off, but that happens when the pages don't change, so it's going to be minimal. Sure, 301's might drop some of your PR during transfer, but only a minimal amount according to matt cutts. The Benefits:  Organizing your content into silos and pruning cross-category links will allow you to control the flow of pagerank and anchor text much more effectively. Bruce Clay has a huge amount of resources on this, and they even cover it on their blog. Will it be painful? Yes. Will it be worth it? Yes.

We have bread crumbs on our main site and as Dejan describes.... "Another neat thing is in the SERPs when you get little: Top Level > Main Category > Sub Category type links under your snippet. "  .... lots of these extra links appear in our SERPs. Also, just yesterday we started adding breadcrumbs to our second most important site.  This is part of a redesign for a site that was built a long time ago. It is a medium-size handbuilt site and adding the breadcrumbs is going to be a little costly. We believe that breadcrumbs are very important for visitors, they help communicate the structure of your site to google and are important for making the navigation structure links appear in the Google  SERPs.

Awesome... thanks for the info!

What we decided to do was a process for each deletion along with setting up a 301 redirect for any missing or incorrect bio to our Bio's home page. First, we will remove the bio from the XML sitemap and resubmit the sitemaps. Second, we wait a couple of days then delete the actual bio page from our site. So far this seems to be going alright.