In chatting, I've taken to using bold to format code. This is because it does not stand out very well if the only thing that changes is a fixed-width font. For instance:
But it seems that if CSS were applied to use a fixed width font and change the background color, that would be a better solution. I'm not sure of the entire implications, but here's a test:
**`code`**
), andtext-shadow: 1px 0 #000
is applied to it: i.stack.imgur.com/zvVBG.png