An in-depth essay examining paragraph styles on the web, by Jon Tan.
Typographers use layout techniques like single line boundaries, indents, outdents and versals (drop caps etc.) to punctuate paragraphs in a stream of discourse. Block paragraphs are common to the Web, indented paragraphs are common to print. Browser vendors gave us a default block style [...]

Since I’m upon the pinnacle of learning and wisdom that is the UNSW campus, I’d better watch my grammar… a very scholarly sort scowled at me when I inadvertently dropped an apostrophe while drafting a post earlier.
I thought I’d highlight Alex’s comments on paragraphs though, as some people seriously need to find their computer’s enter [...]

A cool collection of paragraph formatting techniques and experiments, some of which unfortunately don’t work across all browsers and platforms, using a little CSS trickery.
Great reference point though if you want to try something new and different with your paragraph formatting.