I\'ve been parsing through some log files and I\'ve found that some of the lines are too long to display on one line so Terminal.app kindly wraps them onto the next line. Ho
This isn't exactly what you're asking for, but GNU Screen (included with OS X, if I recall correctly, and common on other *nix systems) lets you turn line wrapping on/off (C-a r and C-a C-r). That way, you can simply resize your terminal instead of piping stuff through a script.
Screen basically gives you "virtual" terminals within one toplevel terminal application.