The point of printing and browsing code is that it is easier and nicer than to read it on a screen (you'll have a portable with you at the cafe anyway to search, annotate, etc.) If you get lots of broken lines, it isn't readable.
Point was, you lose a capability with long lines -- a nice way to go over code. This is important for many of us.
Edit: Point jedsmith, write it off as grumpy-old-man syndrome. Sigh, I just can't get that this isn't understood by everyone, anymore.
Let me first not that printing was a little sub point.
Second, in what you quote from: easier and nicer than to read it on a screen.
So your argument seems to be that it is equally nice to read fewer lines of paper in a smaller font. Huh? Also, my eyes can't handle 4 pages on a page any more -- and your eyes won't be able to do that after 40, either.
You can't print code longer than 150 characters wide?
Since when?