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Re: perhaps I've missed something ...

>pps. let and letrec are both binding constructs. I don't see why we 
>need two different forms.  Why not just use 'let,' and if any of the 
>right-hand-sides happen to refer to the name they're bound to, 
>implicitly change the whole thing into a letrec?  I think this would 
>be much simpler and avoid lots of confusion.

Personally I think this whole LET business is a wart (and probably
inherited from BASIC, to boot -- good grief!)  We should all be
programming in CPS.