"Give me an object like Foo, but with this one little thing changed."
The biggest problem with inheritance is that it's a lot like monkey patching (except in production)... the rest of the base class's code expects method X to do ABC, and you've just swapped out the implementation to do LMNO ... and if that never bites you in the ass, you're luckier than most OO programmers I know.
Instead of
foo.WriteToFile("/tmp/foo")
You might write:
file.Write(foo.Representation()).
I promise that most inheritance in the real world is attempting to reuse something like "WriteToFile". "I wouldn't want to copy-paste the file-writing code, so I'll inherit from something that can write itself to the file." No. Don't do that.
Compression is a little dangerous because it requires the programmer to understand a fair amount about the context from which compressed code will take its meaning. Not only does this require available source code or excellent documentation, but the nature of inherited language also forces the programmer to understand the source or documentation. If a programmer needs a lot of context to understand a program he needs to extend, he may make mistake because of misunderstandings.
(from Patterns in Software, which is a really deep if long-winded book)