This is something we've had on our radar for a while. I definitely want to include something like this. We did some research on different address formats in the past, but couldn't find solid information on any particular country outside the US, CA, and GB. Ideally we'd like to include address profiles for most countries, so users don't have to put so much effort into configuration (having to define address formats for 200 countries sucks).
Understandably, most users don't do business with most countries, but if we had a database of the top 30 or 40 countries that would be a big help in getting this done.
Here are the different address components:
First name
Last name
Company name
Address line 1
Address line 2
City
State/Province (local name, ISO 3166-2 subdivision code)
Country (English name, local name, ISO 3166-1 2-char and ISO 3-char code)
Zip/Postal code
Some countries may not recognize ISO codes for province (I believe all do for Country), so it may be necessary to display province name instead of ISO code. These are all things that need to be decided on a per-country level (or perhaps even per province?).