In IDEs that support refactor-renaming (Emacs probably does?), the column-aligned formatting also has the drawback that it breaks (unless the refactoring also auto-realigns all affected code).
For example,
one = 1
fortyTwo = 42
elite = 1337
might become:
one = 1
ultimateAnswer = 42
leet = 1337
This made me stop column-aligning in most cases. An exception is array initializers for two-dimensional tables with many columns, where the benefit is important enough.