Hi friend...
as far as I know(and it's not too bad not to be recommended) CWM is mostly flashed with Odin and you'd better do the same...
I don't understand what you mean by "checked the format internal memory option"...maybe you've used Mobile Odin?
anyway...if you want to have the latest stock ROM I recommend ICS(because it's the fastest firmware for our tab at the moment...take a look at the Quadrant score comparison table in here:
https://sites.google.com/site/arashtarafar/
(sorry for not being up-to-date,but the scores are the same...)hope you're satisfied

)
the CWM v5.5.0.4(or something like that!)is iploaded to the link above so you can download it and flash it using Odin(for doing the factory reset...don't forget to wipe cach and Dalvik,for a clean install)
For flashing:
1.charge the device for at least %40 of battery power...
2.download the latest firmware(for p7500,you didn't mention your model,but it doesn't make so difference

)from here:
http://forum.xda-developers.com/show....php?t=1806296
(don't be frightened by "Italy firmware".I'm in Iran and I downloaded it and all fine...
3.flash using Odin(in PC!)
4.after "PASS" disconnect device...let the new recovery do it's work and reboot automatically...if you run into a bootloop,reboot to recovery manually and wipe data+cache there-->reboot,you'll be fine...
5.for Root(ICS) go to this link:
http://galaxytabhacks.com/galaxy-tab...laxy-tab-10-1/
then click on "Download rooting files" in the bottom...transfer the files to the root of you tab's storage,you should have at least CWM 5.5.0.4(custom),reboot into CWM and flash the archive...you should have root now...
tell us if you have p7510 or want stock Honeycomb...