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Benjamin: oups, sorry. I don't remember setting the "easy" keyword, my mistake.
Fwiw I'm +1 on Marc-Andre's solution. Make it a tunable setting, e.g. with sys.setcollisionlimit(). Defaults to sys.maxint on existing Pythons and some smaller value (70?) on new Pythons. It has the same benefits as the recursion limit: it's theoretically bad, but most of the time very useful.
It would also crash on bad usages of custom __hash__() methods: e.g. if you put a lot of keys in a dict, all with a custom __hash__() that returns 42. I imagine that it can be considered a good thing to raise in this case rather than silently degrade performance forever.