According to the book Expert F#, you can use decimal and bignum types, or use System.Convert if you're worried about overflows. I don't think using unchecked arithmetic will lead to "many" errors, as long as you're careful about typing.
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I understand the value of this from a performance standpoint... but being on by default?
Isn't this going to lead to some many unexpected errors?
How are people generally handling this? Are they the "Checked" module? What is the performance loss?