Almost ten years ago, Gary Gregory requested the feature “Text Viewer and Editor needs to support word wrap” in bug 35779. Currently, the bug has 203 comments and up to now 209 people have voted for this bug. There is only one bug that has more votes than the word wrap bug. Nevertheless, the bug is still open and probably will stay open forever.
Conclusion: The text editor patch is quite promising. There are only a few minor cosmetic issues left. The performance has to be tested. Hopefully, the patch will get applied soon by the Platform team. Good job, Florian! :-)
Update: Florian also blogged about his proposed solution, which would be his first contribution to Eclipse.