Would solve the vast majority of peps -- That said there might be things I'm over looking. I'll get started on this on Tuesday and try and get a couple of "worst case scenario" tests cases together that highlight the issues. From there, the rendering of op instructions is fairly centralised so it should be fairly straight forward to prove out.
The work here will certainly be trying to produce test cases that produce all of the formatting issues. Perhaps it would make sense to deal with the really obvious ones first rather than going to deep.
It would be a great help if anyone interested in this fix could list any pep errors they have encountered not already listed above.