IMHO if the installation is such that, if all current were flowing on a single 'branch' of the parallel conductor set, that conductor would be below its ampacity, and if the OCPD were correctly sized for a single 'branch' of the parallel conductor set, then it is a _safe_ installation.
If this is in fact the case, then the only answer is 'the code say so', perhaps combined with 'the writers of the code did not anticipate this situation, and in an attempt to prevent real hazards they inadvertently prohibited what should be a safe installation.'
See
http://www.mikeholt.com/code_forum/showpost.php?p=642483&postcount=31 for an interesting take on 310.4
How about this for a _permissive_ analysis of 310.4:
Generally 310.4 is read as prohibiting conductors smaller than 1/0 from being used in parallel. However there is in fact no explicit prohibition from using smaller conductors in parallel, but instead 310.4 _permits_ certain benefits from being derived from conductors in parallel.
Using this interpretation, if we didn't have 310.4, there would be no prohibition against using conductors in parallel, however there would be no capacity benefit to such use. All of the code rules applying to conductors would have to apply to the _individual_ branches of the parallel set.
For example, consider overcurrent protection. 240.4 requires conductors to be protected by overcurrent device in accordance with their ampacity as specified in 310.15, with various refinements. Nothing in 310.15 says anything about the amapcity of conductors in parallel; it just tells me things like 'the ampacity of a #6 conductor with 60C insulation is 55A'. So 240.4 requires that I protect that conductor with no more than a 60A breaker, and feed a load of no more than 55A. If I put two #6 conductors in parallel, I would still be limited by 240.4 to putting this set on no more than a 60A breaker.
310.4 then _permits_ us to use conductors in parallel as single conductors. A single #1/0 conductor has an ampacity of 125A, but because of 310.4, two of these conductors in parallel would be permitted to be used at an aggregate ampacity of 250A, with corresponding OCPD.
I grant that this interpretation makes some of the exceptions to 310.4 redundant, and does not jive with the standard interpretation of the code. However it does fit with the general requirement that the code be permissive (if it doesn't say you can't do something, then you can do it). Also it makes the example installation (parallel #6 conductors for voltage drop), which seems like a reasonable and safe installation, legal.
-Jon