When dealing with files it would be nice to avoid an extra block. This is not the same as the __exit__ method because you would have to write a function to just catch an error.
BTW, why not "with...except.."? Just like "for" and "while" loops have "else" clauses.

    with open('foo') as f:
    except IOError:
        print('Problem with the file!')

Joćo Bernardo