By default break/pause is disabled which means that all break points become trace points.

Break/pause of breakpoints can be able using the project property named "Enable Break/Pause". 

Break/pause will stop and wait when a breakpoint is hit but it does not allow you to then step through every source line. You can only step from breakpoint to breakpoint.
 
After you enable Break/Pause you can also enable "Jump To Source". 

Jump to source will open the code at the correct source line when the debugger pauses. To re-start the debugger press F5 or any of the visual studio start>debug commands.
 
If you switch on debug break/pause then you will also need to observe the checkbox on the "When Hit" window called "Continue Execution". Visual Studio switches it ON by default for any breakpoints that have messages. 

This allows fine control of all breakpoints but maybe we should have an option to force all to break?

But it's smarter than it seems, because it is possible to use the same syntax as in Arduino's Serial.print functions, example:
{somevariable, HEX} shows the variable in hex.

And of course, any C-style modifiers are also possible:
{(unsigned long) mypointer}

I think a true printf style syntax would be even better, but that could increase the code size too much.