Hello,

I run (with latest trunk, but the problem exists in earlier builds too) :

$ src/emacs -Q ~/tmp/testemacs.org
then do:
M-x visual-line-mode RET
TAB ;; show the content of the headline
C-x 3 ;; the second line gets wrapped (repeat if needed to achieve effect).
C-n
C-f

At this point, cursor moves erroneously to the end of the headline,
although M-: (point) RET reports 8 as it should (so, only the cursor is
misplaced).

Alternatively, "C-n C-f" can be replaced by "M-g c 8", then inserting
chars shows where point really is.

Here's the testemacs.org file