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This is a very sensible enhancement to Python. 
I would just like to ask a niggling question .. 
In the PEP, and below, everyone always talks of "encoding". 
This is also the terminology I'm familiar with from all over.

So why on earth is the magic comment string just "coding",
and not "encoding"?

Perhaps the recognizing regexp can match both, prefering
"encoding" and deprecating "coding"?

My apologies if I'm missing something or repeating someone
else ..