There is no standard for subtitle formatting in .SRT (only in ASS and SSA).
It has standard, max. 2x40 letters/line, max. 6 sec and min 1 sec/line, and a bunch of minor things.
Altough it is true, that you can write a lot of bullshit into srt and file still remains playable til you dont pick something at timing lines.
I meant "subtitle formatting" as in "styling the subtitles". That kind of format, not that SRT itself has no format. SRT has no actual standard, but there are recommended guidelines (which you've mentioned and, sadly, are mostly ignored).
SRT is a loose standard, to say the least (wikipedia is blunter: "There is no formal specification of the .SRT file format"). Proof of this is that it'll always "play", no matter what's been done to it. SUB being crap and SRT being a bad attempt at standardizing is the reason ASS and SSA exist. The problem is that SRT is a "human-readable" format, where others aren't.
Styling SRT, though, is a jungle. Each player has invented its own format (from the ridiculous use of HTML tags to the interesting use of symbols to the WEIRD use of smileys).
I personally don't like styling but I can see the need for it (especially in closed-captioning/hearing-impaired subtitles).
OS: I thought I had understood you actually store the subtitle lines in a database. I see that's not the case. I can see how there's no easy solution to the mess of multiple uploaders for similar subtitles.
EDIT: This is what I thought was being implemented: SubLib:
http://sublib.sourceforge.net/
The advantage of using a subtitle library is that instead of the subtitle itself what can be stored in the database is a "representation" of the subtitles for the movie.
From this representation any format could be output, if needed. And subtitles that are identical but different only in format could be stored as one. Also, format could be stripped as well as language encodings.
This would also mean registered users could download and edit versions of the subtitle and re-upload them fixed.
How many subtitles should, in reality, exist for each local language? Two? Three? there's no point for having more than one with ambiance sounds as an option on the output, I believe. Too bad this may be a dream.