Thanks very much for your input! Here's out take:
1. The convention for short form notes is to keep them as plain text. This is how Twitter works, as well as most (all?) Nostr clients. The good news is that Nostr also has long form notes, where you can use text formatting. Primal doesn't currently support long form notes, but we are planning to support them in the future.
2. Yes - note translation is a useful feature which we are planning to implement soon.