> where you literally would have no idea what it would look like until several minutes later when it finally came out on the printer?

That is why print preview is a good idea (which is possible with most modern computers; this can be done independently of WYSIWYG editing). For example, if you write a TeX file and then make the DVI file and use xdvi or another previewer to display it on the computer before you print it on paper.

Reveal Codes would be another possibility, perhaps in combination with a "partial WYSIWYG" editor which does not display reflowing etc in the editor and only in the preview; if you use Reveal Codes then formatting codes are displayed (e.g. bold, italics, etc), but you can also display the bold, italics, etc directly during editing. This can be a in between way, which gives you some of the benefits of WYSIWYG and some of the benefits of non-WYSIWYG.