PM code wrapping only occurs if "Auto Code Wrapping" is unchecked. After the specified width, the line is broken and a red "+" is placed in the first column indicating it's a continuation. Clicking the "download" link provides the unwrapped code.
1234567890123456789012345678901234567890123456789012345678901234567890
+123456789012345678901234567890
looks like
1234567890123456789012345678901234567890123456789012345678901234567890
+123456789012345678901234567890
[download]
Anyway, just posting an alternative.