I find it useful in certain situations. In particular, I have used it along with cx_Oracle to provide a python module that dynamically mirrors a package of stored procedures in the database. Basically I had class StoredProcedure(object) and each instance of this class represented a particular stored procedure in the database. It just made sense to use the __call__ method to make these instances callable. Seemed silly to use some other method to actually call the stored procedure in the database from such an instance.
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