When water is boiled for formula preparation, if the lid is on the pot, the solutes will not be concentrated.  Evaporation is the problem, not the temperature.  With the lid on the pot, the steam will condense and fall back into the pot.  The lid should stay on while the water cools.  
 
Incidentally, bottled water often contains more bacteria than tap water, so maybe it should be boiled before being used for formula.  I've never seen that recommended anywhere, but it kinda makes sense.  
 
I have heard recommendations that when the pipes may be joined with leaded solder, to run the water for a minute before collecting it for use in order to flush out water that had been sitting in the pipes.  Not just for formula, in general.
 
Julie Tardos
using sources from LACTNET for my UCSD homework
:-)  

~~~
This, too, shall pass.

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