I actually like them both a lot for someone who is a developer who has spend hours fixing/optimizing large queries. As someone mentioned in another comment good syntax highlighting is often not available for sql (if any) so having the keywords separated is very helpful. When fixing and improving things I mostly care about 10% of the query, the JOINS and WHERE clause and CAPS keyword make those much easier to grasp. And the comma at the line start is very helpful (even though it looks odd for me) when you are adding/removing columns and sections on the fly. If the comma is at the start of the line you can simply comment, if it's at line end you need to edit two lines when removing a particular line from the query.