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"Also, the usual way to decode by using the .decode method."
The original bug happened using requests library, so I have no leverage on the used method for decoding.
But if you used the "replace" mode with your methodology, you would have raised the same Exception : 
>>> content = b'+1911\' rel=\'stylesheet\' type=\'text/css\' />\n<link rel="alternate" type="application/rss+xml'
>>> content.decode("utf-7", "replace")
File "<stdin>", line 1, in <module>
 File "/lib/python3.3/encodings/utf_7.py", line 12, in decode
 return codecs.utf_7_decode(input, errors, True)
SystemError: invalid maximum character passed to PyUnicode_New