Ideally I'd hide formatting options as much as
possible because I don't want user to
- make
- text
- unreadable
- when
the forum uses a sensible default typography
In my opinion:
Direct formatting is better left to people who took the time to find how it works. Only structural markup should be in the editor controls.
Direct formatting should be reserved to special occasions. If centered or colored titles makes sense on a forum, make that the default via CSS and don't hardcode any formatting.
Also it probably doesn't apply to everybody, but I'd say the content of a forum will likely last longer than the design or software of that forum. Anything markup-only will easily integrate with a new design. If you hard-coded alignment or colors, old topics might become painful to read with another theme/design.