The field parser is a great idea, but I think I may have found a problem…
If you have the edit textarea set to xhtml, then with each edit the spaces between paragraphs grows. After a couple of rounds, you get something like
<p>Li Europan lingues es membres del sam familie. Lor separat existentie es un myth. Por scientie, musica, sport etc., li tot Europa usa li sam vocabularium. Li lingues differe solmen in li grammatica, li pronunciation e li plu commun vocabules.
</p>
<p>
<br />
Omnicos directe al desirabilit de un nov lingua franca: on refusa continuar payar custosi traductores. It solmen va esser necessi far uniform grammatica, pronunciation e plu sommun paroles.
</p>
And it just gets worse from there. I think it has to do with the way EE adds <p> tags after a line break, rather than immediately following the last word of a paragraph, e.g.
...sommun paroles.
</p>
instead of
...sommun paroles.</p>
But you should try it out and see for yourself, seems like it should be something fixable. Anyway, a cool feature, once it’s working.
Without the field parser, I just turn xhtml off in the stand alone edit (while keeping it on in the new entry form), think of it as a little lesson in basic html for the user 