Working with unindented and uncommented/undocumented code is a nightmare.

I think that indentation is essential; it makes reading code far easier and helps avoid simple mistakes matching stuff up.

On larger projects it doesn't matter what set of standards you stick to so long as everyone uses them and produces clean readable (and therefore maintainable) code is produced.

My rule of thumb is after every function, if its not obvious what it does at a glance or isn't a one-liner, add a quick comment saying what it does. If needs be give a quick example of use.