No ValueError for large exponents?

[enigmadude]

As many have heard, IronPython 1.0 was released. When I was looking
through the listed differences between CPython and IronPython, the
document mentioned that using large exponents such as 10 **
735293857239475 will cause CPython to hang, whereas IronPython will
raise a ValueError. Trying this on my own machine, it did indeed seem
to cause CPython to hang. In cases such as this, should this be
considered a bug in the CPython implementation that needs to be fixed?
Or is there a reason for this, such as consideration of future changes
and language definition vs language implementation, etc.?