Certainly looks impressive, but I can't stand un-tabbed code. Tab, tab, tab I say!
I've actually become slightly too rigorous with HTML and JS now though. Most objects are commonly typed on 1 line like so:
<img name="subNav3BackgroundButtonImg"src="images/subNav3Background.gif" alt="Designs"width="105"height="44">
But I tab
everything:
<img
  name="subNav3BackgroundButtonImg"
  src="images/subNav3Background.gif"
  alt="Designs"
  width="105"
  height="44"
>
It's really easy to recognise objects at a glance though.