If you have such a good way to do formatting in questions/answers why isn't it used for the "about me" section on the profile page?
It looks easy to make and adds just a little bit more consistency.
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It has limited HTML capabilities such as bolding, italics, line breaks, h1 through h3's, and lists. I know there are more allowed tags but I can't remember where to find them. Links and images are also allowed.
You can view my profile as an example of the limited html capabilities (I have bolding, line breaks, lists, images, and links all throughout).