Here is a wp34s example, demonstating the power and convenience of local symbols.
This is a alternating series summation program from Valentin Albillo. I translated it verbatim without understanding the magic behind it and it worked on all the examples.
Anyway, back to the local symbols. In my proof of concept preprocessor the local symbols are labels of form 1H 2H 3H ... 9H.
The forward references to the label 1H is <1F> and back reference to the label is <1B>.
Note how all the loops and if/then/elses of the program required only one local symbol -- 1H, where it is being reused as the source unfolds. In contrast, regular labels have infinite scope and require severe mental effort to come up with random new ones and keep track of them to not reuse accidentally. In the languages where labels are primary means of flow control (like assemblers) this can be quite an advantage.
More so for calculators, where LBL labels are available in finite quantity.
// DatafileVA001.pdf
// by Valentin Albillo
// port by nsg, 2013-07-11 21:11:55
// Sum alternating series [SIGMA](-1)^i f(i), i=0..∞
// LBL B defines f(i) (i in rX)
// Start:
// PSum [^] NDif [A]
// PSum -- integer >=0, may be >7, say 10
// NDif -- 1[<=]NDif[<=]7, integer
LBL'[SIGMA][infinity]±'
LBL A
CF 00
STO 11
x<> Y
STO 10
1
STO 08
0
STO 09
STO I
1H XEQ B
RCL 08
STO- 08
STO- 08
*
STO+ 09
INC I
RCL 10
RCL I
x[<=]? Y
BACK <1B>
STO 08
2
/
FP
x[!=]0?
SF 0
CLx
STO I
1H RCL 08
XEQ B
STO[->]I
INC I
1
STO+ 08
RCL 11
RCL I
x[<=]? Y
BACK <1B>
2
FS? 00
+/-
STO 08
ABS
1H -
STO I
STO 12
LBL 00
RCL[->]I
INC I
STO-[->]I
RCL 11
RCL I
x[!=]? Y
GTO 00
RCL 12
STO I
x=0?
SKIP <1F>
1
BACK <1B>
1H RCL[->]I
RCL 08
/
STO+ 09
2
+/-
STO* 08
INC I
RCL 11
RCL I
x[<=]? Y
BACK <1B>
RCL 09
RTN
// define ith element here (starting with 0-th)
LBL B
1
+
1/x
RTN
Edited: 14 July 2013, 9:00 p.m. after one or more responses were posted