I am in a little of the sticky situation having a custom excerpt function I am using.

Here is a connect to the Pastebin using the Custom Excerpt Function: http://pastebin.com/gK0AWQbt

This is actually the blog index while using function: http://club16.abcguide.com/blog/

Also, the code I am using here's: <?php echo excerpt(300); ?>

And here's the publish around the single page, with proper formatting: http://club16.abcguide.com/newsletters/jan-2012/

Basically the excerpt function I am using is not producing my <p> tags around elements, I am unsure the way i can customize the function to be do that effectively.

Also, basically might have with additional control of once the excerpt finishes (possibly even per publish? Basically might make it identify a particular class and cut there..) that might be amazing.

But concentrating on the job at hands, I am in dire will need a solution!

Automatically excerpt shows first 55 figures also it strips out all html tags. If you wish to increase the size of the excerpt function you'll be able to us a filter like one given bellow, just add this code snippet inside your functions.php file of the theme and wrap the function call in the p tag within the index.php file.

function new_excerpt_length($length) 
    return 300;
add_filter('excerpt_length', 'new_excerpt_length');

Make use of the_excerpt() rather than the_excerpt(300) inside your index.php file within the p tag.

<p class="someclass"> <?php the_excerpt(); ?> </p>