I was mostly talking about a SET being used in an interactive session. In a static SQL statement set into a larger program, it's generally not very useful to know that a given column lines up with some question mark. As long as there is one question mark per column (minus any statically-defined columns), it doesn't matter. In any case, my programs usually generate placeholders on the fly (using code similar to what I wrote in another node in this thread), so there is little point in formatting the SQL at all.

In an interactive session, I'm usually doing a lot of quick-and-dirty work with statements that will be thrown away once the session is over, so I don't take the time to indent the code. SET would be much nicer here.

Update: One other thing--formatting the (cols . . ) VALUES (? . . . ) statement like that will break down for very long lines.