Indentation/alignment's a bit off now.
Since this is going to end up being over 80 if you fix the alignment, I'd suggest:
rendered_item = (
    '<a href ...'
    % (...))

After thinking about this and doing some reading, I think this should be <s>:



<ins> and <del> are for showing editorial changes, generally to an already published page. The <s> element is for indicating information that is no longer relevant or accurate, but still provides some value, and is generally used to create a document with both old and new information at the same time.


http://html5doctor.com/ins-del-s/

Ship It!