I think that's a really good call out! Emery's suggestion is what we tell users currently who want to wrap text around pictures -- it's not ideal, but works for the time being. Hopefully we can have something like this implemented soon.
I've used the "upper/lower text box" routine. For example, if my image is on the left side of the page I set the left side of my upper text box next to the right side of the image and type away until I get to the bottom of the image. Then I begin a new (lower) text box the top of which sits under the bottom of the image. You can then finese the box positions so that things looks just like text wrapping in Word. Sounds a little awkward but it gets easier as you work with it.