This is written for/with Ubuntu 14.04, hopefully, the new version will be available in Ubuntu 14.10
A recently added feature is for gnome-terminal is for the text to reflow when you resize the terminal. This is extremely useful for something like logs.
Demostration, look at how the text reflows when switching the bottom right window from normal to fullscreen.
(Click the image for a larger preview)
To get this functionality, you'll need to install latest version of gnome-terminal (as of 22 September, version 3.12.3).
First we need to add the staging repository of the gnome3-team
$ sudo apt-add-repository ppa:gnome3-team/gnome3-staging
We update the sources to be able to update to latest version
$ sudo apt-get update
We install latest version of gnome-version
$ sudo apt-get install gnome-terminal
And now we should have version 3.12.3 or later. Make sure you got it
$ gnome-terminal --version
GNOME Terminal 3.12.3
Now enjoy lines that break when the window is too small and reflows without re-running the command when resizing the window.