I fear this may be an old-school post, but unless I've missed a recent update, it's my understanding that fundamental LabVIEW teaching is that Locals duplicate memory and should be sparingly used.  I've always known it, and I've ALWAYS disobeyed it.  I love locals and I think they make code cleaner and encourage their use. 
 
So my idea is, if Locals waste memory, please make them NOT waste memory.  A local should be the functional equivalent of updating a Value Property Node in LabVIEW, and of stating VarName = 1234 in any other programming language in which I can set the value of a variable as often as i want anywhere I want, and it doesn't waste memory.  So if we can make Locals good again, all the more harmony.
 
Here's hoping this is a good/novel idea, yet if it's already fixed then Kudos to NI.  I'd hate to think they have structures in LabVIEW with a note that says "PS... don't use this" in the training material. 
 
If I'm wrong about their fundamental behavior now or earlier, let me know.