I'm one of the lucky small percent of the population that can't smell formaldehyde. I used to work with it on a daily basis, it could have been tap water for all I could smell of it.
However, I have smelled the 'spectral' version of it, and it's vile!
Yes, spectral as in ghostly. Years ago I went on the late-night ghost tour at Port Arthur, and outside the surgeon's house I could smell the most awful chemical smell plus what smelled like dead meat. Only to find later that one of the most common 'manifestations' at the house is smells, usually of formaldehyde, and that it's usually people with a medical/nursing background that smell it. They've even had harsh complaints from tour guests about their use of toxic chemicals as props. The thing is, they don't use props at all.
I was a nurse at the time, and as I mentioned, I had no idea what formaldehyde smelled like because I just can't smell it. Several other nurses in the tour also noticed the smell too.
The surgeon used to perform autopsies on dead prisoners in the cellar of the house, hence the link with formaldehyde and dead meat. The stone autopsy slab is still there.