Best practice for managing connections?

Hi,
I currently have something like this and it works well enough.

conn = None
try:
conn = psycopg2.connect(...)
curs = conn.cursor()
curs.execute('...')
conn.commit()
curs.close()
return 'success'
except:
if conn:
conn.rollback()
return 'fail'

Now using the with statement support in psycopg2.5:

try:
with psycopg2.connect(...) as conn:
with conn.cursor() as curs:
curs.execute('...')
return 'success'
except:
return 'fail'

Makes it alot easier. I'm assuming there will be no problems using the
same process with psycopg2.pool classes and connection objects?

I've taken a break for 3 weeks (my model m broke - now I own 4 - and
then got the flu). So rewriting some code will be good refresh, although
as mentioned in a previous post, I lack faith that it is actually doing
the right thing, any tips on that? (aside from monitoring the database
itself.)

Regards.
Jules.