Well, you might think the result is the same, but it isn't
To begin with, the asterisk is Shift+8, so the effort involved is the same.
Beyond that though...
If you use Shift+8 it actually applies Bullet formatting to the list [which
is what the OP specifically asked for], whereas Opt+8 simply bullets the one
para & applies no indentation. IOW, Opt+8 is simply the keystroke for typing
the € character. Not only do you not get the formatting, but you need to
repeat the keystroke for each para in the list & adjust your tab stops to
taste. Many people also prefer their bulleted list to be indented from the
left margin rather than having the bullets flush left.
Further - unmentioned before - you can also use either the *, > or - with
Shift (followed by Space or Tab) in order to trigger other bullet characters
rather than just the plain black dot.
NOTE: This is all assuming that Automatic Bullets hasn't been disabled in
AutoFormat As You Type. Although most experienced Word pros will suggest
that you kill the feature most users never do;-)
Regards |:>)
Bob Jones
[MVP] Office:Mac