Issues:

0) The patch does not apply cleanly; please update it.
1) The patch is incorrect. It does not address the fact that compiling a 2-arg assert statement emits "RAISE_VARARGS 2".
2) The patch is spectacularly untested: because of (1), the interpreter crashes almost immediately when running regrtest.py.
3) Even if you fix (1), the patch is not refcount-correct: regrtest.py crashes after test_dict due to a refcounting error.

Also: the patch implements the "e.__traceback__ = T" implicit assignment. The last I knew, there had never been a formal decision on whether to go ahead with that part of the PEP (there having been quite an uproar and whatnot). Guido: we may have kicked this particular can as far down the road as it's going to go. As soon as we come to a final decision on this, I have a tested, refcount-safe implementation that I'll put up on SF.