Putty -> CentOS / RHEL Termcap linewrap settings

I have this weird line wrapping issue when using putty on CentOS so that when path names exceed 80 characters, it wraps onto the same line and deletes the text showing me my current path.

I am no Termcap guru, but the old-school Unix Termcap gurus here at work gave me this fix that they used when migrating from SCO to Suse.

  
# Putty emulator
xterm|xterm terminal emulator (X Window System):\
        :is=\E[!p\E[?4l\E4l\E>:li#24:co#80:cm=\E[%i%d;%dH:\
        :ho=\E[H:up=\E[A:do=^J:bs:nd=\E[C:so=\E[7m:\
        :se=\E[27m:us=\E[4m:ue=\E[24m:He=\E[1m:Hs=\E[0m:\
        :dc=\E[P:al=\E[L:dl=\E[M:cl=\E[H\E[2J:ce=\E[K:\
        :cd=\E[J:ku=\E[A:kd=\E[B:kr=\E[C:kl=\E[D:\
        :kh=\E[1~:EN=\E[4~:PD=\E[6~:PU=\E[5~:k0=\EOP:\
        :k1=\EOQ:k2=\EOR:k3=\EOS:k4=\E[15~:k5=\E[17~:\
        :k6=\E[18~:k7=\E[19~:k8=\E[20~:k9=\E[21~:\
        :kD=\E[3~:am:km:mi:ms:xn:it#8:AL=\E[%dL:DC=\E[%dP:\
        :DL=\E[%dM:DO=\E[%dB:IC=\E[%d@:K2=\EOE:LE=\E[%dD:\
        :RI=\E[%dC:SF=\E[%dS:SR=\E[%dT:UP=\E[%dA:\
        :ae=\E(B:as=\E(0:bl=^G:bt=\E[Z:cr=^M:cs=\E[%i%d;%dr:\
        :ct=\E[3g:ec=\E[%dX:ei=\E[4l:im=\E[4h:kI=\E[2~:\
        :kN=\E[6~:kP=\E[5~:kb=\177:ke=\E[?1l\E>:ks=\E[?1h\E=:\
        :le=^H:mb=\E[5m:md=\E[1m:me=\E(B\E[m:mr=\E[7m:\
        :rc=\E8:sc=\E7:sf=^J:sr=\EM:st=\EH:ta=^I:\
        :te=\E[?1049l:ti=\E[?1049h:vb=\E[?5h\E[?5l:\
        :ve=\E[?12l\E[?25h:vi=\E[?25l:vs=\E[?12;25h:\
        :