Google\'s Go language has no exceptions as a design choice, and Linus of Linux fame has called exceptions crap. Why?
Typical arguments are that there's no way to tell what exceptions will come out of a particular piece of code (depending on language) and that they are too much like gotos, making it difficult to mentally trace execution.
http://www.joelonsoftware.com/items/2003/10/13.html
There is definitely no consensus on this issue. I would say that from the point of view of a hard-core C programmer like Linus, exceptions are definitely a bad idea. A typical Java programmer is in a vastly different situation, though.