I often see/hear people say that exceptions should only be used rarely, but never explain why. While that may be true, rationale is normally a glib: "it's called an exception for a reason" which, to me, seems to be the sort of explanation that should never be accepted by a respectable programmer/engineer.
There is a range of problems that an exception can be used to solve. Why is it unwise to use them for control flow? What is the philosophy behind being exceptionally conservative with how they are used? Semantics? Performance? Complexity? Aesthetics? Convention?
I've seen some analysis on performance before, but at a level that would be relevant to some systems and irrelevant to others.
Again, I don't necessarily disagree that they should be saved for special circumstances, but I'm wondering what the consensus rationale is (if such a thing exists).