220,
Follow along with me here. All the breaker does in a motor/compressor application (article 440) is protect the wire from short circuits and ground faults. Nothing more, nothing less. A SC or GF will be in the 1000's of amps - well enough to trip any breaker. So we are safe there.
The breaker does not protect the unit from overload. The overload protection is done with the thermal protection of the fan motor(s) and compressor(s). If the motor stalls and overheats, the thermal trips. Also, locked rotor current is more or less a short circuit anyhow, and that will trip a breaker rapidily enough before the conductors are damaged. So we are safe once again.
Does that help?
As for burned up stuff you see all the time, I'm guessing that has to do with high ambient temps, bad/poor bus/breaker stab contact and otherwise bad connections. I highly doubt it has anything to do with this code rule. If anything, because you have cables running through 150 degree attics, they should be sized for that temperature.