First, most of my SQL scripts are multiple statements, typically 6+, ranging up as high as 100. When I'm reading and trying to digset such scripts, the long format described by the author, particularly putting each column on its own row, makes it difficult to easily digest the script. I'm forced to scroll constantly to make sense of the statements in relation to one another. Instead, I prefer to my SQL to be more compact, so I can view as much of the total script as possible.
To accomplish this, and to maintain readability, I structure each statement something like this:
CREATE/INSERT/UPDATE line SELECT line FROM line JOINS (if present) ON (if present) WHERE (if present) AND (if present) Additional SQL (qualify, group by, order by) ;
If I have a lot of columns, the select portion will get split into several lines, usually where there is a case when, column operations, or when the line is 200ish characters long.
This makes the most sense to me, as each command (create, update, insert, select, from, join, on, where, and, group by) is on its own line, followed by the information relevevant to it.