The tests pass and prints the ignores. But I still see an issue:

import sys
def g():
    try:
        return g()
    except:
        return sys.exc_info()
>>> g()
(<type 'exceptions.RuntimeError'>, 'maximum recursion depth exceeded
while calling a Python object', <traceback object at 0xb7d3d75c>)
>>> import sys
Traceback (most recent call last):
  File "<stdin>", line 1, in <module>
RuntimeError: maximum recursion depth exceeded

Then, I can raise that RuntimeError and clear things:

>>> sys.excepthook(*g())
Traceback (most recent call last):
  File "<stdin>", line 3, in g
RuntimeError: maximum recursion depth exceeded while calling a Python object
>>> import sys
>>> 

The attached patch adds a test for this condition, I hope someone more
test-savvy than I can review it.