Re: 240.4(d)
In my opinion, the small conductors are where the abuse comes in, not the larger conductors. The Code says it is not for the untrained persons; however, the rules for overcurrent protection of the smaller conductors seem to be doing just that.
If Joe Homeowner puts a 30 ampere fuse on a #12 Cu wire, what happens? Nothing unless it is really loaded where it is going through the attic. If Joe Homeowner puts a 30 ampere fuse on a #14 Cu wire, what happens? Probably nothing unless it is really loaded where it is going through the attic.
If a conductor is terminated incorrectly, will you have a burnt up connection? Your chances are better is the conductor is lighter loaded than if it were loaded to its capacity.
I think we could come up with more examples but you get the idea. I do not know if this is in the back of the panel member's minds when making the rules or not. I know that we have lived with them for a long time and I don't see a real problem with the rules the way they are now.
Bob mentioned the loading with motors, it is not likely that a DIY will be doing this work. If he does, it is likely that he will not know that he may use a smaller conductor and will still have a fighting chance of being safe.