I had never heard of the idea of keeping a ring of rings for a limited stack trace (the "history"). It's my experience that seeing the last few calls in a backtrace is usually enough for me to see where I went wrong.
The deal with what's "Pythonic" is that Guido believes it's better to have Python be clear upfront about what it does and doesn't do well, and to have a relatively straightforward way to express those things. This is in reaction to languages such as Perl that have several ways to do the same thing, sometimes with counter-intuitive differences in performance. It's good to ask whether the benefit of adding feature X to the language is worth the cost of making it that much larger.
While I would choose a different subset of features, I think he's got a good point.