We use SQL Assistant http://www.softtreetech.com for multiple functions among them code formatting. SQL Assistant uses formatting templates that can be tailored for each user. This allows us to have our individual styles giving us the ability to format a colleage's code with just two key strokes (by default) ctrl + F11 to our liking.

The only problem with inconsistent formatting styles comes from code diffs during version control, but for the most part it's not an issue.