the_excerpt should get autop goodness. Excerpt should fake it by default.

git-svn-id: https://develop.svn.wordpress.org/trunk@841 602fd350-edb4-49c9-b593-d223f7449a82

wp-includes/vars.php

@@ -270,6 +270,7 @@ foreach($wpsmiliestrans as $smiley => $img) {
 add_filter('all', 'wptexturize');
 add_filter('the_content', 'wpautop');
 add_filter('comment_text', 'wpautop');
+add_falter('the_excerpt', 'wpautop');
 
 // Uncomment the following for Textile support
 // include_once('textile.php');