Can the new
operator throw an exception in real life?
And if so, do I have any options for handling such an exception apart from killing my application?
Most realistically new will throw due to a decision to limit a resource. Say this class (which may be memory intensive) takes memory out of the physicals pool and if to many objects take from it (we need memory for other things like sound, textures etc) it may throw instead of crashing later on when something that should be able to allocate memory takes it. (looks like a weird side effect).
Overloading new can be useful in devices with restricted memory. Such as handhelds or on consoles when its too easy to go overboard with cool effects.