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Thanks for the help! This is just what I wanted. Unfortunately, the floatrow package doesn't play nicely when you temporarily change the margins of the page. When placed in a \begin{adjustwidth}{2em}{2em} command of the 'changepage' package, the inline figures behave as if \textwidth hasn't been ...

Thanks! But I would really like the label to go to the right of the image, and be vertically centered. As far as I know this isn't possible with the caption package, is it?

For some reason I thought it would be nice to have inline figures (i.e. no floats) just like the equation environment. They would have to be numbered, as I want to be able to refer to them later on. I've come up with two attempts, but both have their shortcomings. I'm hoping for some feedback that ...