How to handle both `with open(…)` and `sys.stdout` nicely?

Just thinking outside of the box here, how about a custom open() method?

import sys
import contextlib

@contextlib.contextmanager
def smart_open(filename=None):
    if filename and filename != '-':
        fh = open(filename, 'w')
    else:
        fh = sys.stdout

    try:
        yield fh
    finally:
        if fh is not sys.stdout:
            fh.close()

Use it like this:

# For Python 2 you need this line
from __future__ import print_function

# writes to some_file
with smart_open('some_file') as fh:
    print('some output', file=fh)

# writes to stdout
with smart_open() as fh:
    print('some output', file=fh)

# writes to stdout
with smart_open('-') as fh:
    print('some output', file=fh)