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In the Python Language Reference, in the Naming and binding section of 
Execution Model, there is a paragraph that states:
The following constructs bind names: formal parameters to functions, 
import statements, class and function definitions (these bind the class 
or function name in the defining block), and targets that are 
identifiers if occurring in an assignment, for loop header, or in the 
second position of an except clause header. The import statement of the 
form "from ...import *" binds all names defined in the imported module, 
except those beginning with an underscore. This form may only be used at 
the module level.
This misdescribes the except clause, which now uses "as", and omits the 
"with ... as" construct which also binds names.

Fixed in trunk in r70397 and 3k in r70398.