HTML line break formatting in VS is not working?

Question

I've adjusted my VS 2010 HTML formatting settings to do line breaks "Before opening, within, and after closing" for many tags such as the <a> and <li> tags.

But this only renders as the following when formatting the document:

<ul>
    <li>
        <a href="#">
            Item 0</a></li>
    <li>
        <a href="#">
            Item 1</a></li>
    <li>
        ...

How can I make VS 2010 (or 2008) format the HMTL this way instead?

<ul>
    <li>
        <a href="#">
            Item 0
        </a>
    </li>
    <li>
        <a href="#">
            Item 1
        </a>
    </li>
    <li>
        ...