Good news regarding the BR() function: We have changed the behavior so that it inserts a new line character rather than the dreaded _BR_ENCODED_.

You should now be able to compose formulas in Workflow Field Update & Default Value formulas like

Code:

MailingStreet & BR() &
MailingCity & ", " & MailingState & " " & MailingPostalCode & BR() &
MailingCountry

This fix is now live, so give it a try.

Regards,
Eric