grs - you memorized a good rule, just not all of it!
310.16 *'s take you to 240.4 D, which basically says general purpose (non-exception) circuits are as you know.
BUT special circuits can be otherwise - 240.4 E through G.
For instance, I do heat pumps that call for smaller wires on bigger breakers - say #14 on a 20 or 25. Seems to be against the rules.
But, the idea is that UL has tested the failure modes for certain devices and they are such that the conductor will not fail with that size breaker protecting the circuit for startup time, for instance. If it is locked up, it's a short enough time yet such a big overload rate that the breaker will still trip long before the wire gets hot. The difference between load and overload is inherently greater than just one too many toasters!
The supply breaker, the conductor, and the specific load are all part of the system. Different loads act in different ways - and may have exceptions.
Another thought, for all, is not to just look at conductor cost if you are the one paying the electric bill. If there is some real chance you may actually spend some real amount of time paying to flow near max amps of electricity through that minimum size conductor - buy a bigger conductor made of copper, or you are just paying to heat up dirt, or your garage or worse - and maybe then paying again to aircondition that heat back out. All those ohms that make that conductor voltage drop multiply out to watts that convert directly to BTU's of heat. I can garantee you tommorow's electricty is gonna' cost more than today's copper!
Most electricians get into bidding habits, and then miss opportunities to save operating costs in their own systems.