If you're interested in hooking the standard out, the console's perspective on it can have a wide variety of what you want to hook. Do you want the console's prompt printing to the same place that your script code is outputting to? If you do this by simple assignment to system/standard/output, then what happens if you hit an error in mid-script...who puts it back? 
I did some work on an ECHO feature which tried to push on some of those questions, and I think was pretty neat. But it is mothballed for now, because there's just so much to do:
It seems a good start for a discussion of what's important. I'm pretty sure it's rare for features or compositions you don't plan for to just work "by accident"...