Gnome Terminal is the shit. It's totally awesome and other terms seem to copy it, like xfce's terminal. It wraps text just fine for me, has profile switching and lots of other features.

Funny you mention that OS X is taking away options and features. That's how I feel about the Gnome team's approach to their desktop. But Gnome has a lot of small programs and widgets that I find useful. Even though I use stock Ubuntu and Unity on my main desktop, I use Xubuntu on all of my other machines. I'm using ubuntu and variants mainly because of the simple and comprehensive package management system. The variants are really cool too.

I'm not a fan of the Unity desktop either, but I find that once you get used to it, it's tolerable. It's like a useable version of Windows 8, more of a touch centric interface than a desktop interface. Fortunately all of the other Ubuntu variants have real menus. And the variants have a high degree of compatibility with stock Ubuntu so you can install and use things that are made for stock Ubuntu.