In the grand tradition of arms races, I like to give equal time to counter-reverse engineering techniques. Colin Hill suggested an interesting way to cause trouble for my call/ret monitoring solution. Make functions that start with a long sequence of NOPs. Instead of calling the actual start address, load the starting address into a register and add a random number to the base address that still points into the NOP range. This would pollute the address space range in the output.
For die-hard, old school reverse engineers, this would also have the effect of creating paranoia of self-modifying code.