This was the original intention, i.e. 'format' preferred over '%' but
even the core developers have backtracked on this issue. If I could
remember the thread it was on I'd give you a reference, but I haven't
the faintest idea as to which mailing list it was on. I'm certain that
other subscribers will remember and point us all in the correct direction.

http://comments.gmane.org/gmane.comp.python.devel/121299
http://comments.gmane.org/gmane.comp.python.devel/129939

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