I have to agree. Adding tons of whitespace is generally going to make things harder to read.

Personally, I'm very much into Ratliff (or banner style) indentation and using two spaces for your indent. I know that 4 is the standard for a lot of people, but my feeling is that this is generally the result of people using VeryLongVariableNamesThatGoOnForever and blocks that go on for a many lines.

The more concise code becomes and the shorter your blocks get, I have found that it becomes much more annoying to have to skip your eye further. This gets especially silly if you have anything with deep nesting.

Ratliff style just makes it so so easy to tell where a block terminates though. I have basically no idea why it isn't wildly popular.

Probably because editors don't support it.