A nonlocal exchange energy functional developed within the weighted spin-density approximation (WSDA) and a local Coulomb correlation energy functional are combined within the densityfunctional scheme for the calculation of the electronic structure of many-electron systems. Both functionals include alternative forms of the pair-correlation functions governing the size and shape of the Fermi and Coulomb holes. Self-consistent calculations have been performed for all atoms from He to Rn within the exchange-only USDA scheme. These have been compared to the results of similar calculations using Becke s exchange functional. Besides, the results of calculations for all atoms from He to Ar, including both exchange and correlation, are compared with those of the self-interaction-corrected method. In addition to obtaining accurate total, exchange, and correlation energies, we perform a successful calculation of the s -+ d interconfigurational energies (ICE's) for transition-metal atoms. The average error of the calculated ICE values for 3d atoms is only 0.2 eV. PACS number(s): 31.20.Sy, 31.20.Tz, 31.10.+z