> My choice of implementation would be to pass a discriminator function which takes an error and returns true if the error is recoverable.
Conditions are close to exactly that + syntactic sugar.
`handler-bind` lets you establish a dynamic scope, inside of which specific functions are called when specific conditions are signaled. Signaling a condition = call the first handler function in the list that handles the signaled condition. The handler is called before the stack is unwound, which allows it to elect to either `throw`, invoke a restart, or ignore the condition entirely.
This is in contrast to exceptions in (say) Java. `throw new FooException()` does a lot of potentially destructive work before control gets transfered to the exception handler: It allocates an exception object, which fully captures the current thread's stack. (It's not too common, but this can be bypassed, if you don't throw a new exception object...) It unwinds the stack to the frame that has a matching `catch`.
Only after those two things have happened does the exception handler get a chance to decide how to proceed, and at that point, it's too late for many recovery strategies. Conditions help this by making it easier to intercept the process earlier.
Where they hurt is that they add another level of complexity to API design. With Java style exceptions, if the function fails, it fails completely. There's a convenient simplicity to that. With Lisp style conditions and restarts, A function will let you know how things are going as it does its work and then give you the opportunity to change its behavior midstream. It's a lot more work to design that kind of API, and it's probably well past the point of diminishing returns for most kinds of development.