SharePoint lists need a lot of brightening-up to get people's attention. Color coding priorities is a stalwart favorite for many, and implementing it couldn't be easier.
The below formula is originally based on one created by Christophe, but has been customised to suit our needs:
="<span style=""color:"&IF(Priority="","Black",IF(Priority="(1) High","Red",IF(Priority="(2) Normal","Black",IF(Priority="(3) Low","Gray","Fuchsia"))))&""">"&Priority&"</span>"
Paste the above formula into HTMLCC's formula box, adjust the colors (in bold) to your preference, and see the immediately difference it makes to your list.