Exactly, knowing that the contract code will eventually halt is nice to know but knowing that it will halt after a reasonable CPU cost seems much more important in this case (which is really interesting).
From what I've seen from example contracts, it doesn't seem like the chance of infinite loops is that high. Personally, I find that in mainstream languages, if you accidentally write an infinite loop you find out very quickly on the first few runs and code that could be hiding an infinite loop stands out. The vast majority of loops just iterate from the start of a collection to the end.
For what I've read, having the sender setting gas limits seems really awkward especially when the limit is exceeded. Are there practical alternatives? Even with O(1) you'd need to limit the computation time.
The Parity multisig contract is very complex and I wouldn't and didn't trust any funds with it. I hope that the newly deployed fixed multisigs are bug-free but how would you know?
Right now I'm working on tools for static analysis of bytecode and using such tools to verify the correctness of contracts written by hand in assembly, which I think makes a great deal of sense for the simple contracts that we need as utilities (multisigs, tokens, etc).
Yeah...any ideas why they didn't go with a language that had an easier route for formal verification? It seems like an ideal application and the contract specifications seem like they would be fairly straightforward to prove (compared to what you'd see in most journal papers for instance). I'm guessing the designers just weren't aware of theorem provers but I'm puzzled why they didn't go with a language with strong static typing where private access and immutability are the defaults plus avoiding anything to do with the mechanism they have for picking default handling functions when a message isn't understood. Great experiment to watch though!