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I think enhanced text tracebacks would be great.

(I even have my own hacked-up one lying around
here somewhere -- it colourized the output.  I think
a part of me was waiting for an opportunity to
make enhanced tracebacks standard. The most
important enhancement IMHO is to show argument
values.)

I don't think the functionality belongs in cgitb,
though.  The main routine probably should go
in traceback; the common routines (scanvars
and lookup) can go there too.