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4.8.0 major change to text in pages and posts. 4.8.1 Add a custom HMTL widget instead. Question how to get around replacing almost every page / post with a custom widget?
I ended up trying this and so far so good.
Install TinyMCE Advanced and Advanced TinyMCE Configuration Plugin.
Check the box Keep paragraph Tags in tinyMCE
and tweak any setting in Advanced.