> Such as whether a callee-saved register really does need to be saved in some particular routine.
Ironically this is your preconceived abstraction of how a compiler has to operate. An ideal compiler could allocate registers differently for each called function: F1()->F2()->F3(), F1 uses r0-5, F2 uses r6-10, F3 uses r11-15, no register saving required in the whole chain. There's no need for a fixed ABI. Such a compiler would look very different from today's ones.
Yeah, that's what MSVC and GCC did on x86, called "custom calling conventions" on MSVC and the regparm attribute on GCC.
All of these were dropped on x64, on x64 (and ARM) you get standard calling conventions for just about everything with proper unwind tables for functions.
It doesn't really "cheat" on the registers unless it inlines a function entirely. LLVM has support for custom calling conventions and pragmas to specify them, this is used by GHC on Haskell and other things, but it's practically unheard of in "normal" C/C++ code.
Modifying the ABI of a function requires being able to track down all of the call-sites of the function, which is less trivial than you might assume. ABI concerns also tend to baked in relatively early in the optimization pipeline because you just simply can't get the ABI wrong, and I can think of several instances where the ABI decision causes missed optimizations.
There is also the other issue that a good algorithm for optimizing a problem like register allocation tends to be super-linear (e.g., quadratic), and if you shift the model from "allocate on a per-function basis" to "allocate all functions", the N in the O(N²) goes from "size of function" to "size of program," which is now suddenly a lot more compiler time spent for very modest gains. If register spilling across a function call is a noticeable component of runtime, then you're probably better off inlining that function in the first place!