Use of ADDRESS Element
In neither case did the authors explain how or why the element should be used. In fact, it seemed implied that it should be used to mark up any postal address that might find its way onto a web page. In the argument of semantics and the proper use of the HTML standard, this would be inaccurate.
"The ADDRESS element may be used by authors to supply contact information for a document or a major part of a document such as a form."
Therefore, if the contact information for a particular document happens to be a postal address, then by all means, use the address element.
May, should or must
Some may argue that the use of "may be used" (vs. "should", or "must") opens the door to other possible uses. However, one only has to look at the use of "may" in other places within the W3C spec to realize that this isn't the case.
"Unlike A, it may only appear in the HEAD section of a document"
Even though they use "may", they really mean "should" or "must".
Instead, an hCard or adr microformat would likely be the best way to mark up your address. The examples page even includes some proper examples of using the
ADDRESS element in conjunction with the hCard specification.