I used to. Then I had knee surgery and laid off for awhile. I thought walking lots was enough, but it is not. Squats work the glutes (butt muscles) and the quadriceps (the big muscles in the front and sides of the thigh. These are the powerhouse of your body in many ways. because they are big muscle groups, working on building these muscles are a key area for strength throughout the body. They also are good muscle groups for metabolism boosting. They help your whole body function better in walking, lifting, balancing. Squats and lunges (I am doing modified lunges on a step because of my knees) also help reinforce and strengthen the tissues around the knee joint. This puts less stress on the joint itself since the muscles offer more support and better tracking (less wobbling around).
I am just starting to get back to lower body work. I used to do heavy squats and lunges 2X a week and want to eventually get back there.
Sparkpeople.com is a free site that shows various moves on video so you get to see the movements. There are several good books out there that also give detailed explanations on how to do these things safely. Body for Life is one, The New Rules for Lifting for Women: How to Lift like a Man and Look like a Goddess" is also a highly recommended book. Skip over to the Strength Training for Women thread in Exercise for other recommendations. By the way, you don't get bulky. You do lose jiggle.
