Not sure when this was added to Address Book, but if you have contacts in different countries that use different address formats, Address Book is smart enough to support those formats. When editing an address, click on the address title (Home, Work) to pop up a menu. This is mostly used to define the type of address (home, work, etc.), but in this case, it also contains a sub-menu with country names. Select the country name, and voila, the address fields change (and if you already entered an address, it does a good job moving the bits to the right place). One thing it unfortunately does not do is auto-detect the country you typed in the Country field and change the format to match -- sounds like a job for Applescript.
Note also that if you are using "auto-formatted" phone numbers, it's a good idea to put "fully qualified" phone numbers in for your international contacts, ie +[country code] - [area code] - [phone number]. Otherwise, the auto-formatter will do strange things to the number. Again, it doesn't automatically recognize the country and fill in the correct country code.
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