Setting excerpt cut-off at

Hello, is there a way to have the post excerpt displayed by the Ultimate Posts widget get cut off to where the <!–more–> has been inserted into the post? Alternately… or actually better… would be if I could set the *content* to display but have this cut off where <!–more–> has been inserted. The reason this second option might work better in my case is because I would like to retain the HTML formatting (specifically the line breaks) and choosing the excerpt option doesn’t appear to allow this. Any tips or options here? Thank you!