This is a paragraph of text. I want to float an image next to it. Didn't work, though.
It turns out that you need insert the image first, then select left or right alignment. After that, paragraphs you insert will be floated. However, while a left or right aligned image will resize automatically in Gutenberg, they don't resize for the front end of the site, so you might not see your text actually wrapping.
Further paragraphs (and presumably other blocks) will continue to float around the image.
What does a cover image cover?
The image above is aligned center, but it's not showing up as centered either in the editor or on the front of the site, even after I resize it.
Let me try that again, just to make sure that I can reproduce the problem.
Okay, I think I've beaten this sufficiently to death. Submitted an issue on GitHub.