Before I start, I've not looked in-depth at how EOS smart contracts will be implemented. Consider this a thinking out loud comment.
Furthermore, there is rarely a need to implement dynamic memory allocation.
What about developers that are intentionally trying to cause harm? You mention that it restarts with a clean slate each time, but what does that mean?
@dan
Given that (as you mention) c++ is inherently unsafe, what protection is there against obfuscated contracts that cause harm to unsuspecting users?
RE: EOS - Example Exchange Contract and Benefits of C++