Does personal experience count? (note also that I indicated that ultimately all of this is just my opinion). Personally I find I mostly end up creating bugs when I don't have a clear enough image of what the proper pre-condition to a loop should be and what its post-condition should be. I therefore believe that code that by its very structure can't easily be assigned pre/post conditions would make things quite difficult. Post-conditions also tend to make it easier to reason that the code is correct (provided they are documented).

As for the Monad quote, well it's use is somewhat limited in Python, however returning a 'trivial' result rather than an exception usually ends up being easier to work with. Which is appropriate varies though, and in Python there's not much reason to avoid exceptions for performance reasons anyway.