> It's unclear (to me at least) what letfn offers you over regular let,
> since functions are just values anyway:

let has sequential binding; letfn makes the names of each function  
available in all of them. This allows for mutual recursion, amongst  
other things. (Presumably there are some compiler tricks available in  
the future, too -- the compiler knows about arglists, return types,  
that these are functions, etc. etc.)

http://clojure.org/api#toc332

letfn is equivalent to Common Lisp's LABELS. Binding function objects  
to names in let is equivalent to nested FLETs.

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