Why in this millennium should Python PEP-8 specify a maximum line length of 79 characters?
Pretty much every code editor under the sun can handle longer lines. What to do with wrapping should be the choice of the content consumer, not the responsibility of the content creator.
Are there any (legitimately) good reasons for adhering to 79 characters in this age?
Much of the value of PEP-8 is to stop people arguing about inconsequential formatting rules, and get on with writing good, consistently formatted code. Sure, no one really thinks that 79 is optimal, but there's no obvious gain in changing it to 99 or 119 or whatever your preferred line length is. I think the choices are these: follow the rule and find a worthwhile cause to battle for, or provide some data that demonstrates how readability and productivity vary with line length. The latter would be extremely interesting, and would have a good chance of changing people's minds I think.