Normally if "Word Wrap" is enabled, everything gets wrapped at a certain column.
The idea is to have a switch to enable softer wrapping. This would not break words or lines of dashes / asterisks which are too big for the rest of the line. It would only break on word_separators. One could then modify this var if necessary - e.g. not breaking ascii tables.
A problem which I see here is that Sublime would somehow have to guess how big the paragraph is or something like that.
Another idea would be the possibility to mark certain lines as unwrappable - either via syntax definition or view commands.
Personally I kind of prefer the latter one.