What limitations give you pause? I've never had any issues with FAT32, except not being able to create files of over 4GB. For music files this isn't a problem.
- Max Volume size (2TB isn't really big anymore in todays world)
- Max file size (4GB, really?)
I suppose if all you have is tiny music drives, you get away with whatever. But I prefer to store anything I might encounter on a drive.
ExFAT is kind of the bastard child. It's mostly an MS focused file system. Linux and OSX both support it and I've tried it. It has odd issues with characters that are supported and seems to have a strange issue with time stamps as well. I probably will not be using it in the future. I'm probably going back to FAT32 for "portable" file systems.
exFAT sees quite wide usage around the world, its even the default file system for lage SD Cards as defined by the SD Card Association, if it doesn't work on OSX properly, then you only have one party to blame, and its not Microsoft.
I find the idea abhorrent. It was never designed to be "open" in any way.
Neither was FAT32, its also a Microsoft File System, or any file system Apple uses, for that matter. So that argument kinda falls flat on its face if the alternative you propose is even from the same vendor.
PS: "FUSE" drivers are not loaded into kernel space, thats their entire point, FUSE stands for "Filesystem in Userspace", ie. the kernel interface is nicely capsuled away so that such a driver couldn't do anything bad.