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Originally Posted by Zim
Is it in general possible to make text wrap an image and format text with different font styles?
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No. Text wrapping is not an option (unless the wrapped text is part of the image). And with the exception of the <tt> tag—which will cause the Kindle to render text with its built-in mono-space font—different font styles are not possible either.
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How about tables and math formulas? Is there a way to display them (except the method of placing them as an image)?
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Unfortunately, no.
That may all be changing with the announcement of the new Kindle format, but it's unclear which devices will be updated to be able to render that new format.