Formula field: text formatting?

Formula field: text formatting?

Hi!
I have a text only db and I need to concatenate and format text strings in a forluma field. Could you please help? 
It is a bibliography so my formula should return something like this, 

Reilly, Rahtz, 1992 Paul Reilly, Sebastian Rahtz (eds), Archaeology and the information age. A global perspective, London, Routledge, 1992

I am ok with concatenating fields and with adding commas and periods or fix words among them, but I have a couple of problems:

1) Is it possible to manage style (e.g.  Italic or  Subtitled)?
2) How can I manage booleans e.g. IF Editors field is "true", I want the formula to display "(eds.), ", but not when it is false?
3) I imported datas from an excel sheet where I had a URL field, now of course it's only displayed as a text field; can i convert it into URL without having to input them again manually?
4) Worst of everything: When anyone of the original fields listed in the formula is empty, it returns nothing, that is, an empty formula field! Instead I want it to simply leave that single part blank and go on (e.g. I have Author1 + Author2, but if author is only one I get an empty record...)

thank you!

e.