I would appreciate if you guys make comments on the white formation

I usually set this formation up on a non-exchanging peaces kind of game. It would be nice to hear some tips for next possible moves, as well as down and up characteristics of this strategy.

Well, black can play Bb4, and although you can protect the knight with your bishop or Queen, if he has a pin that could potentially be a bit of a thorn in your side for a while.

Also, black could try playing c3 and then b4 to go after your light squared Bishop.

I dunno, the a and b pawns look a little funny to me, and the light bishop seems limited, but if the a and b pawns were still on the back line this formation would look totally fine to me.

(Edit: and of course a IM would post as I am typing, making my advice needless. )

Thanks a lot for the comments guys. I usually leave my bishop in the "enemy zone" - in this case c4 before i close my defense with a pawn at d3. I end up moving the pawns to a4 and b3 to protect the bishop. They leave only one weak spot in terms of pawns, which is the 2c. After this formation is done, I start attacking with the knight at 3c and the bishop at 4c. I confess I never read any books or looked up into any tactics, all i do is improvise, but i guess that's what keep me from being a +1400 kind of guy...