Thanks for the explanation, Robert Kern. It seems then that indeed, these days 
the optimal default would be `fmt='%.16e'`.

The test on StackOverflow was just a quick demonstration. See also the 
description for `DBL_DECIMAL_DIG` here:
https://en.cppreference.com/w/cpp/header/cfloat

> But if your true concern is that 9% of disk space,
> you probably don't want to be using `savetxt()` in any case.
Well, I do in fact want to save as text, but I would rather not do so in an 
unnecessarily wasteful fashion. So i just set `fmt='%.16e'` myself, no biggie. 
The point, however, is that most users will not set this, and so `savetxt()` is 
a cause of wasted disk space generally, which I think should be fixed (if 
indeed we can be 100% certain that `fmt='%.16e'` is in fact always enough).
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