[cecilpl2]

Using your example, I think

"My name is {name}, I'm {feet} tall and live in {location}.".format(name="Bob", location="USA", feet=7)

is less explicit than

"My name is Bob, I'm 7 feet tall and live in USA."

[ansonhoyt]

and that last one is faster to run ;-)

[collyw]

Yes it is.