I tend to trust easy to revoke, well tried auth mechanisms over someone's home-grown version—especially judging by e.g. playstation network's terrible history. I simply don't trust Nintendo to not require me to reset my password with a breach, and I'm lazy as hell.
Yikes, I had no idea who Monte Davidoff was. I've actually read his floating point routines! This is embarrassing; I wish I could edit my other post still.
Anyway, my point stands—Bill started as a coder, good enough to code on the pdp-11(?); Steve never was one.