[ahi]

This is a substantially different example now though... with four (space-separated) holistically formatted words, instead of two words with formatting change mid-word for one.

I believe current incarnations of my program would generate:

\textit{italic} \textbf{\textit{bold italic}} \textbf{bold}

]

or

\textit{italic} \textit{\textbf{bold italic}} \textbf{bold}

]

So... neither, I guess? The formatting preprocessor would "blank" the formatting of the space after the first italic, and the space before the second bold due to a lack of uniform formatting on both sides of the space character.

- Ahi