MADsblionel:

That setting primarly drives code in a Fortran main program that calls a routine called FOR_SET_FPE to set the FPCW. It doesn't do this for a DLL. 

So, I have been under false impression that this setting actually affects the generated machine code? Driven by that impression, I wandered quite a bit how to reliably get the desired behavior (the same as John wanted). Now that you said it, it makes much more sense that way...

So, basically the only way to regulate exceptions is through FPCW, right?

Slightly off-topic, Steve, is my observation correct that math intrinsics now (as opposed to CVF) behave according to FPCW setting? For example, LOG(0) or SQRT(negative) now generate "Invalid FP operation" exception with appropriate FPCW flag cleared, rather than displaying arcane message box or terminate (thus MATHERRQQ is now deservingly retired).