Sorry to go off-topic, but I just wanted to explain why the “if you have to wrap, it’s too much text” is a good rule, but like most rules, there are many instances where that rule can +and should+ be broken.
Most of the presentations I make are to public boards (public utility governing boards, county boards of supervisors, regulatory agency boards, etc.). Before the meeting, I submit my Keynote presentation, which is included in the agenda and ultimately becomes part of the permanent public record.
I could make a fabulous speech with an amazing, very simple Keynote presentation that supports my speech, but the decisions typically don't get made in the meetings. They get made based on the recommendations of staff members who use my Keynote presentation as a reference because they weren't at the meeting to hear my riveting speech.
In these cases, the Keynote presentation isn't a visual aid for my speech. The speech is an audio aid for the Keynote presentation. Succinct and well-written text organized logically with easy-to-understand graphics wins staff over to my position. Three words and a graphic on a slide that don't make sense without the accompanying speech accomplish nothing.
Anyway, *as you said*, there are exceptions to every rule and your point is a good one. I see all too often presentations where the speaker stands in front of the group and just reads his PowerPoint presentation word for word (the people who do this are inevitably using PP, not Keynote, of course 🙂 )
The most important thing is to consider the purpose of your presentation, whom it will be presented to, and how it will be used. Anyone who is doing presentations professionally should understand this rule (and others), and the reason behind it. And at that point, you can make an informed decision about whether or not the rule is appropriate to your specific situation.