It would be fantastic if there was auto-formatting for the Formula Tool (and even other tools, possibly). The auto-formatting would function similar to Python PEP-8 style, either 4 spaces or an indent on each new line. This could also be expanded to modify the existing autocomplete functionality of an IF statement with appropriate formatting.
Auto-Complete Current State Example:
IF c THEN t ELSE f ENDIF
Proposed Example:
IF c
THEN t
ELSE f
ENDIF
This would dramatically increase readability for lengthy nested IF statements or other complicated functions within the Formula tool. It would also save a tremendous amount of time when we have to go back and format those functions later.