I like jalbert's form of lining up the keywords on their right. I'd also add that I like the ANDs and ORs on the left (some people put them on the right.) In addition, I like to line up my equals signs when possible.
SELECT column1,
column2
FROM table1, table2
WHERE table1.column1 = table2.column4
AND table1.col5 = "hi"
OR table2.myfield = 678