diff --git a/blocks/api/parser.js b/blocks/api/parser.js
index c908414a77597..6d4771c80d3c4 100644
--- a/blocks/api/parser.js
+++ b/blocks/api/parser.js
@@ -162,7 +162,7 @@ export function createBlockWithFallback( name, rawContent, attributes ) {
 
 	// Convert 'core/text' blocks in existing content to the new
 	// 'core/paragraph'.
-	if ( name === 'core/text' ) {
+	if ( name === 'core/text' || name === 'core/cover-text' ) {
 		name = 'core/paragraph';
 	}
 
diff --git a/blocks/editable/index.js b/blocks/editable/index.js
index f869025a84c83..51e4d030058af 100644
--- a/blocks/editable/index.js
+++ b/blocks/editable/index.js
@@ -551,6 +551,7 @@ export default class Editable extends Component {
 			style,
 			value,
 			focus,
+			wrapperClassname,
 			className,
 			inlineToolbar = false,
 			formattingControls,
@@ -563,7 +564,7 @@ export default class Editable extends Component {
 		// mount and initialize a new child element in its place.
 		const key = [ 'editor', Tagname ].join();
 		const isPlaceholderVisible = placeholder && ! focus && this.state.empty;
-		const classes = classnames( className, 'blocks-editable' );
+		const classes = classnames( wrapperClassname, 'blocks-editable' );
 
 		const formatToolbar = (
 			<FormatToolbar
@@ -595,6 +596,7 @@ export default class Editable extends Component {
 					defaultValue={ value }
 					isPlaceholderVisible={ isPlaceholderVisible }
 					label={ placeholder }
+					className={ className }
 					key={ key }
 				/>
 				{ isPlaceholderVisible &&
diff --git a/blocks/editable/tinymce.js b/blocks/editable/tinymce.js
index fe1ba297bfed1..2cf65393b6f8b 100644
--- a/blocks/editable/tinymce.js
+++ b/blocks/editable/tinymce.js
@@ -34,6 +34,10 @@ export default class TinyMCE extends Component {
 		if ( ! isEqual( this.props.style, nextProps.style ) ) {
 			Object.assign( this.editorNode.style, nextProps.style );
 		}
+
+		if ( ! isEqual( this.props.className, nextProps.className ) ) {
+			this.editorNode.className = classnames( nextProps.className, 'blocks-editable__tinymce' );
+		}
 	}
 
 	componentWillUnmount() {
diff --git a/blocks/inspector-controls/range-control/index.js b/blocks/inspector-controls/range-control/index.js
index d0fedad9e65da..6d356f2b93f51 100644
--- a/blocks/inspector-controls/range-control/index.js
+++ b/blocks/inspector-controls/range-control/index.js
@@ -1,7 +1,8 @@
 /**
  * WordPress dependencies
  */
-import { Dashicon, withInstanceId } from '@wordpress/components';
+import { Dashicon, withInstanceId, Button } from '@wordpress/components';
+import { __ } from '@wordpress/i18n';
 
 /**
  * Internal dependencies
@@ -9,7 +10,7 @@ import { Dashicon, withInstanceId } from '@wordpress/components';
 import BaseControl from './../base-control';
 import './style.scss';
 
-function RangeControl( { label, value, instanceId, onChange, beforeIcon, afterIcon, ...props } ) {
+function RangeControl( { label, value, instanceId, onChange, beforeIcon, afterIcon, allowReset, ...props } ) {
 	const id = 'inspector-range-control-' + instanceId;
 	const onChangeValue = ( event ) => onChange( Number( event.target.value ) );
 
@@ -31,6 +32,11 @@ function RangeControl( { label, value, instanceId, onChange, beforeIcon, afterIc
 				value={ value }
 				{ ...props }
 			/>
+			{ allowReset &&
+				<Button onClick={ () => onChange() } disabled={ value === undefined }>
+					{ __( 'Reset' ) }
+				</Button>
+			}
 		</BaseControl>
 	);
 }
diff --git a/blocks/library/cover-text/editor.scss b/blocks/library/cover-text/editor.scss
deleted file mode 100644
index fe5ab068ff7ec..0000000000000
--- a/blocks/library/cover-text/editor.scss
+++ /dev/null
@@ -1,3 +0,0 @@
-.wp-block-cover-text p.blocks-editable__tinymce {
-	font-size: inherit;
-}
diff --git a/blocks/library/cover-text/index.js b/blocks/library/cover-text/index.js
deleted file mode 100644
index 5db7359fbbdda..0000000000000
--- a/blocks/library/cover-text/index.js
+++ /dev/null
@@ -1,205 +0,0 @@
-/**
- * External dependencies
- */
-import classnames from 'classnames';
-
-/**
- * WordPress dependencies
- */
-import { __ } from '@wordpress/i18n';
-import { concatChildren } from '@wordpress/element';
-
-/**
- * Internal dependencies
- */
-import './style.scss';
-import './editor.scss';
-import { registerBlockType, source } from '../../api';
-import AlignmentToolbar from '../../alignment-toolbar';
-import BlockControls from '../../block-controls';
-import BlockAlignmentToolbar from '../../block-alignment-toolbar';
-import ColorPalette from '../../color-palette';
-import Editable from '../../editable';
-import InspectorControls from '../../inspector-controls';
-import RangeControl from '../../inspector-controls/range-control';
-import ToggleControl from '../../inspector-controls/toggle-control';
-import BlockDescription from '../../block-description';
-
-const { children, query } = source;
-
-registerBlockType( 'core/cover-text', {
-	title: __( 'Cover Text' ),
-
-	icon: 'admin-customizer',
-
-	category: 'formatting',
-
-	keywords: [ __( 'colors' ) ],
-
-	attributes: {
-		align: {
-			type: 'string',
-		},
-		width: {
-			type: 'string',
-		},
-		content: {
-			type: 'array',
-			source: query( 'p', children() ),
-		},
-		dropCap: {
-			type: 'boolean',
-			default: false,
-		},
-		placeholder: {
-			type: 'string',
-		},
-		textColor: {
-			type: 'string',
-		},
-		backgroundColor: {
-			type: 'string',
-		},
-		fontSize: {
-			type: 'number',
-		},
-	},
-
-	getEditWrapperProps( attributes ) {
-		const { width } = attributes;
-		if ( 'wide' === width || 'full' === width ) {
-			return { 'data-align': width };
-		}
-	},
-
-	merge( attributes, attributesToMerge ) {
-		return {
-			content: concatChildren( attributes.content, attributesToMerge.content ),
-		};
-	},
-
-	edit( { attributes, setAttributes, className, focus, setFocus, mergeBlocks } ) {
-		const {
-			align,
-			width,
-			content,
-			dropCap,
-			placeholder,
-			textColor,
-			backgroundColor,
-			fontSize,
-		} = attributes;
-
-		const toggleDropCap = () => setAttributes( { dropCap: ! dropCap } );
-
-		return [
-			focus && (
-				<BlockControls key="controls">
-					<BlockAlignmentToolbar
-						value={ width }
-						onChange={ ( nextWidth ) => setAttributes( { width: nextWidth } ) }
-						controls={ [ 'center', 'wide', 'full' ] }
-					/>
-					<AlignmentToolbar
-						value={ align }
-						onChange={ ( nextAlign ) => setAttributes( { align: nextAlign } ) }
-					/>
-				</BlockControls>
-			),
-			focus && (
-				<InspectorControls key="inspector">
-					<BlockDescription>
-						<p>{ __( 'Text. Great things start here.' ) }</p>
-					</BlockDescription>
-					<h3>{ __( 'Text Settings' ) }</h3>
-					<ToggleControl
-						label={ __( 'Drop Cap' ) }
-						checked={ !! dropCap }
-						onChange={ toggleDropCap }
-					/>
-					<RangeControl
-						label={ __( 'Font Size' ) }
-						value={ fontSize }
-						onChange={ ( value ) => setAttributes( { fontSize: value } ) }
-						min={ 10 }
-						max={ 200 }
-						beforeIcon="editor-textcolor"
-					/>
-					<h3>{ __( 'Background Color' ) }</h3>
-					<ColorPalette
-						value={ backgroundColor }
-						onChange={ ( colorValue ) => setAttributes( { backgroundColor: colorValue.hex } ) }
-						withTransparentOption
-					/>
-					<h3>{ __( 'Text Color' ) }</h3>
-					<ColorPalette
-						value={ textColor }
-						onChange={ ( colorValue ) => setAttributes( { textColor: colorValue.hex } ) }
-					/>
-				</InspectorControls>
-			),
-			<div
-				key="block"
-				className={ classnames( className, {
-					[ `align${ width }` ]: width,
-					'has-background': backgroundColor,
-				} ) }
-				style={ {
-					backgroundColor: backgroundColor,
-					color: textColor,
-					fontSize: fontSize,
-				} }
-			>
-				<Editable
-					tagName="p"
-					value={ content }
-					onChange={ ( nextContent ) => {
-						setAttributes( {
-							content: nextContent,
-						} );
-					} }
-					focus={ focus }
-					onFocus={ setFocus }
-					onMerge={ mergeBlocks }
-					style={ { textAlign: align } }
-					className={ dropCap ? 'has-drop-cap' : null }
-					placeholder={ placeholder || __( 'New Paragraph' ) }
-				/>
-			</div>,
-		];
-	},
-
-	save( { attributes } ) {
-		const { width, align, content, dropCap, backgroundColor, textColor, fontSize } = attributes;
-		const className = dropCap ? 'has-drop-cap' : null;
-		const wrapperClassName = classnames( className, {
-			[ `align${ width }` ]: width,
-			'has-background': backgroundColor,
-		} );
-		const styles = {
-			backgroundColor: backgroundColor,
-			color: textColor,
-			fontSize: fontSize,
-		};
-
-		if ( ! align ) {
-			return (
-				<div
-					className={ wrapperClassName }
-					style={ styles }
-				>
-					<p className={ className }>{ content }</p>
-				</div>
-			);
-		}
-
-		return (
-			<div
-				className={ wrapperClassName }
-				style={ styles }
-			>
-				<p style={ { textAlign: align } } className={ className }>{ content }</p>
-			</div>
-		);
-	},
-} );
diff --git a/blocks/library/cover-text/style.scss b/blocks/library/cover-text/style.scss
deleted file mode 100644
index 1ca35052b4037..0000000000000
--- a/blocks/library/cover-text/style.scss
+++ /dev/null
@@ -1,12 +0,0 @@
-.wp-block-cover-text {
-
-	&.has-background {
-		padding: 20px 30px;
-	}
-
-	p {
-		font-size: inherit !important;
-		max-width: $visual-editor-max-width - ( $block-mover-padding-visible );
-		margin: 0 auto;
-	}
-}
diff --git a/blocks/library/index.js b/blocks/library/index.js
index ead7508fcef47..8ae8ce98543f2 100644
--- a/blocks/library/index.js
+++ b/blocks/library/index.js
@@ -17,7 +17,6 @@ import './freeform';
 import './latest-posts';
 import './categories';
 import './cover-image';
-import './cover-text';
 import './shortcode';
 import './text-columns';
 import './verse';
diff --git a/blocks/library/list/index.js b/blocks/library/list/index.js
index bbdb512680ed1..76475ba440f11 100644
--- a/blocks/library/list/index.js
+++ b/blocks/library/list/index.js
@@ -318,7 +318,7 @@ registerBlockType( 'core/list', {
 					value={ values }
 					focus={ focus }
 					onFocus={ setFocus }
-					className="blocks-list"
+					wrapperClassname="blocks-list"
 					placeholder={ __( 'Write list…' ) }
 					onMerge={ mergeBlocks }
 					onSplit={ ( before, after, ...blocks ) => {
diff --git a/blocks/library/paragraph/index.js b/blocks/library/paragraph/index.js
index 1061d81e7f425..e99f553d37f31 100644
--- a/blocks/library/paragraph/index.js
+++ b/blocks/library/paragraph/index.js
@@ -3,6 +3,7 @@
  */
 import { __ } from '@wordpress/i18n';
 import { concatChildren } from '@wordpress/element';
+import classnames from 'classnames';
 
 /**
  * Internal dependencies
@@ -10,10 +11,13 @@ import { concatChildren } from '@wordpress/element';
 import './style.scss';
 import { registerBlockType, createBlock, source, setDefaultBlock } from '../../api';
 import AlignmentToolbar from '../../alignment-toolbar';
+import BlockAlignmentToolbar from '../../block-alignment-toolbar';
 import BlockControls from '../../block-controls';
 import Editable from '../../editable';
 import InspectorControls from '../../inspector-controls';
 import ToggleControl from '../../inspector-controls/toggle-control';
+import RangeControl from '../../inspector-controls/range-control';
+import ColorPalette from '../../color-palette';
 import BlockDescription from '../../block-description';
 
 const { children } = source;
@@ -44,6 +48,18 @@ registerBlockType( 'core/paragraph', {
 		placeholder: {
 			type: 'string',
 		},
+		width: {
+			type: 'string',
+		},
+		textColor: {
+			type: 'string',
+		},
+		backgroundColor: {
+			type: 'string',
+		},
+		fontSize: {
+			type: 'number',
+		},
 	},
 
 	transforms: {
@@ -65,12 +81,26 @@ registerBlockType( 'core/paragraph', {
 		};
 	},
 
+	getEditWrapperProps( attributes ) {
+		const { width } = attributes;
+		if ( 'wide' === width || 'full' === width ) {
+			return { 'data-align': width };
+		}
+	},
+
 	edit( { attributes, setAttributes, insertBlocksAfter, focus, setFocus, mergeBlocks, onReplace } ) {
-		const { align, content, dropCap, placeholder } = attributes;
+		const { align, content, dropCap, placeholder, fontSize, backgroundColor, textColor, width } = attributes;
 		const toggleDropCap = () => setAttributes( { dropCap: ! dropCap } );
+		const className = dropCap ? 'has-drop-cap' : null;
+
 		return [
 			focus && (
 				<BlockControls key="controls">
+					<BlockAlignmentToolbar
+						value={ width }
+						onChange={ ( nextWidth ) => setAttributes( { width: nextWidth } ) }
+						controls={ [ 'wide', 'full' ] }
+					/>
 					<AlignmentToolbar
 						value={ align }
 						onChange={ ( nextAlign ) => {
@@ -90,10 +120,40 @@ registerBlockType( 'core/paragraph', {
 						checked={ !! dropCap }
 						onChange={ toggleDropCap }
 					/>
+					<RangeControl
+						label={ __( 'Font Size' ) }
+						value={ fontSize || '' }
+						onChange={ ( value ) => setAttributes( { fontSize: value } ) }
+						min={ 10 }
+						max={ 200 }
+						beforeIcon="editor-textcolor"
+						allowReset
+					/>
+					<h3>{ __( 'Background Color' ) }</h3>
+					<ColorPalette
+						value={ backgroundColor }
+						onChange={ ( colorValue ) => setAttributes( { backgroundColor: colorValue.hex } ) }
+						withTransparentOption
+					/>
+					<h3>{ __( 'Text Color' ) }</h3>
+					<ColorPalette
+						value={ textColor }
+						onChange={ ( colorValue ) => setAttributes( { textColor: colorValue.hex } ) }
+					/>
 				</InspectorControls>
 			),
 			<Editable
 				tagName="p"
+				className={ classnames( 'wp-block-paragraph', className, {
+					[ `align${ width }` ]: width,
+					'has-background': backgroundColor,
+				} ) }
+				style={ {
+					backgroundColor: backgroundColor,
+					color: textColor,
+					fontSize: fontSize ? fontSize + 'px' : undefined,
+					textAlign: align,
+				} }
 				key="editable"
 				value={ content }
 				onChange={ ( nextContent ) => {
@@ -112,22 +172,26 @@ registerBlockType( 'core/paragraph', {
 				} }
 				onMerge={ mergeBlocks }
 				onReplace={ onReplace }
-				style={ { textAlign: align } }
-				className={ dropCap ? 'has-drop-cap' : null }
 				placeholder={ placeholder || __( 'New Paragraph' ) }
 			/>,
 		];
 	},
 
 	save( { attributes } ) {
-		const { align, content, dropCap } = attributes;
-		const className = dropCap ? 'has-drop-cap' : null;
-
-		if ( ! align ) {
-			return <p className={ className }>{ content }</p>;
-		}
+		const { width, align, content, dropCap, backgroundColor, textColor, fontSize } = attributes;
+		const className = classnames( {
+			[ `align${ width }` ]: width,
+			'has-background': backgroundColor,
+			'has-drop-cap': dropCap,
+		} );
+		const styles = {
+			backgroundColor: backgroundColor,
+			color: textColor,
+			fontSize: fontSize,
+			textAlign: align,
+		};
 
-		return <p style={ { textAlign: align } } className={ className }>{ content }</p>;
+		return <p style={ styles } className={ className ? className : undefined }>{ content }</p>;
 	},
 } );
 
diff --git a/blocks/library/paragraph/style.scss b/blocks/library/paragraph/style.scss
index 1cc6bd7b2ff4d..ba590421b23b9 100644
--- a/blocks/library/paragraph/style.scss
+++ b/blocks/library/paragraph/style.scss
@@ -14,3 +14,7 @@ p.has-drop-cap {
 p.has-drop-cap:not( :focus )  {
 	overflow: hidden;
 }
+
+p.has-background {
+	padding: 20px 30px;
+}
diff --git a/blocks/library/preformatted/index.js b/blocks/library/preformatted/index.js
index a0c8dc0d36ada..7151ba8412986 100644
--- a/blocks/library/preformatted/index.js
+++ b/blocks/library/preformatted/index.js
@@ -70,7 +70,7 @@ registerBlockType( 'core/preformatted', {
 				focus={ focus }
 				onFocus={ setFocus }
 				placeholder={ __( 'Write preformatted text…' ) }
-				className={ className }
+				wrapperClassname={ className }
 			/>
 		);
 	},
diff --git a/blocks/library/pullquote/index.js b/blocks/library/pullquote/index.js
index a4223575338e2..46795be9f2f64 100644
--- a/blocks/library/pullquote/index.js
+++ b/blocks/library/pullquote/index.js
@@ -70,7 +70,7 @@ registerBlockType( 'core/pullquote', {
 					placeholder={ __( 'Write quote…' ) }
 					focus={ focus && focus.editable === 'value' ? focus : null }
 					onFocus={ ( props ) => setFocus( { ...props, editable: 'value' } ) }
-					className="blocks-pullquote__content"
+					wrapperClassname="blocks-pullquote__content"
 				/>
 				{ ( citation || !! focus ) && (
 					<Editable
diff --git a/blocks/library/table/table-block.js b/blocks/library/table/table-block.js
index 267b50311379e..68aef712ca950 100644
--- a/blocks/library/table/table-block.js
+++ b/blocks/library/table/table-block.js
@@ -98,7 +98,7 @@ export default class TableBlock extends Component {
 			<Editable
 				key="editor"
 				tagName="table"
-				className={ className }
+				wrapperClassname={ className }
 				getSettings={ ( settings ) => ( {
 					...settings,
 					plugins: ( settings.plugins || [] ).concat( 'table' ),
diff --git a/blocks/library/verse/index.js b/blocks/library/verse/index.js
index 37ccce66f3013..65a4f9d40fd15 100644
--- a/blocks/library/verse/index.js
+++ b/blocks/library/verse/index.js
@@ -72,7 +72,7 @@ registerBlockType( 'core/verse', {
 				focus={ focus }
 				onFocus={ setFocus }
 				placeholder={ __( 'Write…' ) }
-				className={ className }
+				wrapperClassname={ className }
 				formattingControls={ [ 'bold', 'italic', 'strikethrough' ] }
 			/>,
 		];
diff --git a/blocks/test/fixtures/core__cover-text.html b/blocks/test/fixtures/core__cover-text.html
deleted file mode 100644
index f5597afcebeb2..0000000000000
--- a/blocks/test/fixtures/core__cover-text.html
+++ /dev/null
@@ -1,3 +0,0 @@
-<!-- wp:core/cover-text {"backgroundColor":"#fcb900"} -->
-<div style="background-color:#fcb900"><p>Text with color.</p></div>
-<!-- /wp:core/cover-text -->
diff --git a/blocks/test/fixtures/core__cover-text.json b/blocks/test/fixtures/core__cover-text.json
deleted file mode 100644
index 37f86cd34441d..0000000000000
--- a/blocks/test/fixtures/core__cover-text.json
+++ /dev/null
@@ -1,17 +0,0 @@
-[
-    {
-        "uid": "_uid_0",
-        "name": "core/cover-text",
-        "isValid": false,
-        "attributes": {
-            "content": [
-                [
-                    "Text with color."
-                ]
-            ],
-            "dropCap": false,
-            "backgroundColor": "#fcb900"
-        },
-        "originalContent": "<div style=\"background-color:#fcb900\"><p>Text with color.</p></div>"
-    }
-]
diff --git a/blocks/test/fixtures/core__cover-text.parsed.json b/blocks/test/fixtures/core__cover-text.parsed.json
deleted file mode 100644
index 1ec53cb343478..0000000000000
--- a/blocks/test/fixtures/core__cover-text.parsed.json
+++ /dev/null
@@ -1,13 +0,0 @@
-[
-    {
-        "blockName": "core/cover-text",
-        "attrs": {
-            "backgroundColor": "#fcb900"
-        },
-        "rawContent": "\n<div style=\"background-color:#fcb900\"><p>Text with color.</p></div>\n"
-    },
-    {
-        "attrs": {},
-        "rawContent": "\n"
-    }
-]
diff --git a/blocks/test/fixtures/core__cover-text.serialized.html b/blocks/test/fixtures/core__cover-text.serialized.html
deleted file mode 100644
index bfacf834d8fe8..0000000000000
--- a/blocks/test/fixtures/core__cover-text.serialized.html
+++ /dev/null
@@ -1,5 +0,0 @@
-<!-- wp:core/cover-text {"backgroundColor":"#fcb900"} -->
-<div style="background-color:#fcb900">
-    <p>Text with color.</p>
-</div>
-<!-- /wp:core/cover-text -->