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I think this is an important feature for many of the reasons previously mentioned. However, a built in solution has to be done very carefully. If you were to set a cookie that automatically logged you in, it would obviously need to represent an encrypted version of the user's id. The server would decrypt it, verify it, and log them in.
The problem is, this encrypt/decrypt algorith of sorts, would need to be unique to every server. Otherwise, you could encrypt the id on your own xoops, fake the cookie to another site, and voila! That is why it would be difficult to have a built it version. The algorithm would have to a custom/unique seed for every site and be still be hard to crack.
There are of course other ways to do this, anyone wanna brainstorm with me?
-ddFred