You can align columns of text using align.el by MatthiasHelmling. Get it here:
Put the file into your LoadPath and add the following code to your ~/.emacs file:
(autoload 'align-cols "align" "Align text in the region." t)
Then use M-x align-cols to do it.
You might also want to check out ColumnizeWords
There is also a package called align.el provided with the emacs22 distribution, not to be confused with the previously described align.el. See AlignCommands for more details.
My thanks to Matthias! This is a great tool for lining up columnar sections of code. – DanMuller