I'd like to suggest a feature for smart indenting of soft-wrapped paragraphs, somewhat in the vein of breakindent – but rather than having the rest of the paragraph match the first (visual) line, to have it do a hanging indent on a bulleted/numbered list like so:

1. Congress shall make no law respecting an establishment of 
   religion, or prohibiting the free exercise thereof; or 
   abridging the freedom of speech, or of the press; or the 
   right of the people peaceably to assemble, and to petition 
   the government for a redress of grievances.

I'm aware that formatoptions=n will do this for numbered lists and formatoptions=c will do this for asterisks (provided they are defined as comment leaders with comments=fb:*), but this only works by forcing an automatic hard wrap.

I posted about this on the vi/vim StackExchange over six months ago, so I'm fairly certain there's no way to accomplish this through vim's existing settings.