Overall better image control. It would be nice to have an image aligned right (or left), but part way down the body of the message, not at the very top of the message like now. And better control over sizing and padding.
Hi friends -- I've updated the status here to Not Planned based on the extensive research our Product Team has done on this topic.
We would love to provide more robust layout options, including freeform images floating within a block of text, however, the limitation lies in the lack of layout support from email clients. Without getting too technical, the code that drives email design really isn't that smart. Email layout is almost entirely block driven, even when coding from scratch. Arranging blocks of text and images is very much like arranging the blocks in a game of Tetris. Those blocks can't overlap or wrap and thus the inability to arbitrarily position images and text around and over each other.
These types of layout options are beginning to become possible on the web. With email design also being HTML and CSS driven, that means eventually we may see those advanced layout options make their way to email. But as we all know, email clients tend to be well behind the curve of what's possible when compared to the web.
So, until the majority of email clients catch up and support the latest web technologies, we won't pursue these more freeform layout options.