Minecraft wiki entry for Historical_effects, associated text: Vertically travelling redstone within the 16,777,216 - 33,554,431 bracket prior to Beta 1.3. The lower wire is in a spot where it is visible, but the upper wire is not.
Vertically travelling redstone from Beta 1.3 through 1.4_01, showcasing a combination of displacement and stretching. In this case, the upper redstone wire is in a position where it renders, where the lower wire is not.
Vertically travelling redstone from Beta 1.5 through 1.7.3, showcasing solely displacement.
Vertically travelling redstone from Beta 1.8 Pre-release through to 14w11b, which no longer appears distorted at all.