I just remembered another tiny benefit of allowing this. Being a VCS-fascist, I 
really strive towards patches that are as readable as possible.

>   * Makes the code slightly more readable, since the "exceptional" code-paths 
> are clearly separated
>   * Biases me as a programmer to think a little bit more of exactly what 
> exceptions can be raised in a function, improving my code-quality.
>   * When I'm about to write a try-clause, makes me think twice if the code 
> could not be extracted as a separate method instead (if I can only figure a 
> good name for it), also improving readability and code-structure.
+   * Patches adding exception-handling will not change indentation of a 
potentially very large method, making it slightly easier to read.

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