Moving a wrapped picture about the page is no freer than moving a table as to positioning with the mouse or otherwise. And in neither case does the text wrapping change until after the object is released (wrapping around a moving picture is only dynamic if you move it via the arrow keys - which is hardly an efficient approach).

Methinks you're fault-finding for the sake of it. If you don't want to use a simple and effective solution for keeping pictures and their captions together, don't; no-one if forcing you to do so. Just don't try making out the solution has flaws that it doesn't. In any event, it was you who asked for a solution for both tables and pictures...

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Cheers,
Paul Edstein
[Fmr MS MVP - Word]