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From: Richard Stallman <rms@gnu.org>
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Subject: Re: init_buffer PWD fix
Date: Wed, 24 Apr 2002 11:55:13 -0600 (MDT)
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    I think Emacs does that because the system call invoked by `getcwd' is 
    much slower on Unix than an access to the environment variables followed 
    by a call to `stat'.  If that is no longer true, we could as well remove 
    the `getenv' part and call `getcwd' directly.

I see no reason to think the situation has changed.
Our most important platform is GNU, and this optimization
is useful on GNU, so we will keep it.  There's no need to spend
time arguing about that question.