When an exception occurs there will be time overhead which depends on how you implement your exception handling. But, being anecdotal, the severity of an event that should cause an exception will take just as much time to handle using any other method. Why not use the highly supported language based method of dealing with such problems?
The GNU C++ compiler uses the zero–cost model by default i.e. there is no time overhead when exceptions don’t occur.
Since information about exception-handling code and the offsets of local objects can be computed once at compile time, such information can be kept in a single place associated with each function, but not in each ARI. You essentially remove exception overhead from each ARI and thus avoid the extra time to push them onto the stack. This approach is called the zero-cost model of exception handling, and the optimized storage mentioned earlier is known as the shadow stack. – Bruce Eckel, Thinking in C++ Volume 2
The size complexity overhead isn’t easily quantifiable but Eckel states an average of 5 and 15 percent. This will depend on the size of your exception handling code in ratio to the size of your application code. If your program is small then exceptions will be a large part of the binary. If you are using a zero–cost model than exceptions will take more space to remove the time overhead, so if you care about space and not time than don’t use zero-cost compilation.
My opinion is that most embedded systems have plenty of memory to the extent that if your system has a C++ compiler you have enough space to include exceptions. The PC/104 computer that my project uses has several GB of secondary memory, 512 MB of main memory, hence no space problem for exceptions – though, our micorcontrollers are programmed in C. My heuristic is “if there is a mainstream C++ compiler for it, use exceptions, otherwise use C”.