ST 3 Build 3010
Mac OS X 10.7.5
If the "highlight_line" setting is true and the cursor is somewhere within a word-wrapped line then if the first part of the line, the part that is not wrapped, is out of view then the whole line is not highlighted.
ST2 did not have this problem and behaved as expected.
Also, the about box in ST3 says "Stable Channel, Build 3010". ST3 is definitely not stable yet so I suggest it should say "Beta Channel, Build 3010" instead.