One problem I have with catchall is passing my emailadresses between "rings of trust". Example: say I have an email for close friends and family: me@example.com. Everywhere else I use spam<random_number>@example.com. All's well, until some well wishing family member decides to give me a gift in a form of subscription, or something like that, and uses my email they know: me@example.com. And just like that the whole carefully built house of card collapses.