I hadn't considered this approach. It seems potent for revision history, but frustrating for reading and review within the source files, or do have vim configuration aids to html/markdown wrap and navigation?
Yeah, I suppose reading a bunch of one-sentence-per-line paragraphs might be a bit sub-optimal, but I haven't found it to be a problem in practice. For longer documents, it's not much trouble to read the rendered version and do edits in the source.