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Re: I suppose I have to put in my two cents about DEFSUBST

My two cents' worth is on the other side of the fence from Moon's.  "An
unusably slow compiler" is just rhetoric.  My experience is that the hidden
glitches resulting from textual substitution rather than LAMBDA-binding fall in
the same category as many other such things: they are hard to find, because you
don't see the mechanism that is causing things to go wrong; they are hidden
 from you on a case-by-case basis by the whim of the implementor of the macro;
they are easy to miss when you define your own macros; they are easily done
right by the compiler.  I have wanted the S1-type careful LAMBDA expander in
Interlisp for many years.