On 28th of April, Greg Stark committed patch:
Add support for wrapping to psql's "extended" mode. This makes it very feasible to display tables that have both many columns and some large data in some columns (such as pg_stats). Emre Hasegeli with review and rewriting from Sergey Muraviov and reviewed by Greg Stark
Continue reading Waiting for 9.4 – Add support for wrapping to psql's “extended" mode.