I never really got this argument. With RAII types that have value semantics (ala shared_ptr) what is so difficult about memory management in C++? I guess there are reference cycles, but weak_ptr can help there. Manual ref-counting (like a COM AddRef/Release pattern) can be tricky, but that is where attention to detail, code reviews and basic competence come in. RAII wrappers with value semantics help here too. Most problems I have seen with that have been people simply not bothering to learn even the basics or using "smart" objects without understanding how they work or how to use them properly, which really isn't that hard, honestly.
>that isn't IMHO a good reason to dislike the "magic" behaviour of exceptions.
Agreed, my primary pain point around exceptions is people that write functions that mutate some state and are interrupted in the middle via an exception and stack unwind leaves objects in some franken-state. Transactional semantics in the face of exceptions don't just happen except in trivial cases (i.e. functions that don't mutate state or have trivial unwind semantics where they must only restore say a single mutated value).
That said the same problem exists anytime there is state mutation and multiple, failure exit paths. For some reason I guess the code I have seen using error code return style tends to handle this better. Could just be some kind of selection bias.