I'm sure you both are, since you both call it soft wrapping :-p. I would like that feature too, but if it doesn't indent kinda like I would expect it to, it could end up being worse than no indentation.
One could perhaps toggle it on and off in the preference pane? Actually, even though I'm pretty happy about most (if not all) functions in textmate ,I'd like some more togglers and sliders in the preferance pane. Rather than go into the different bundles and change for example that selected strings get ""'s around them and so, it would be nice with some checkbuttons for the less tech-savvy.
Andreas