Good points all around. I see the value in guessing at dates, for the reasons Theodore suggests, but also see how guessed dates can be misinterpreted, as Mike and Tom point out.
I've tried to think if there's a way we can do this automatically and have imputed dates display in various contexts. The problem is that this would be very resource-intensive to do on the fly. For example, if you're doing a search and there is no birth or death date for a result, we could estimate the dates and display those. Technically, it wouldn't be that hard. But it would really slow down the search process.
A possibility might be to estimate dates and then store them with the record. The program would guess at a date and then after that it would be up to users to confirm it, improve it, delete it. I don't know how the details would work, though, and it's probably not something we could implement anytime soon.