Excellent reference ! Apparently they do still use formaldehyde.
The article states that formaldehyde is extremely toxic, carcinogenic, etc, etc. It is certainly toxic in "tissue preservation" concentrations, but it has no long term effect, except where it may have reacted with our DNA or damaged our cells from exposure to a higher concentration. It is nothing more than a highly reactive organic chemical, which our bodies are equipped to process in biologic-originated concentrations. Man-made concentrations, as you might guess, have a different effect altogether.
My! What a departure from the original intent of this thread !