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PEP 3134's implicit exception chaining (if accepted) would require your
semantic, and your semantic is simpler anyway (even if the
implementation is non-trivial), so consider my objections to be dropped.
PEP 3134 also proposes implicit chaining during a finally block, which
raises questions for this case:
try:
 ...
finally:
 print(sys.exc_info())
 raise
If sys.exc_info() were removed (with no direct replacement) we'd have
that behaviour answered. raise could be answered by making it a syntax
error, but keep in mind this may be nested in another except block:
try:
 ...
except:
 try:
 ...
 finally:
 raise
I'd prefer a syntax error in this case as well, to avoid any ambiguity
and to keep the implementation simple.