I somewhat disagree about your point on caching. If you're working with models (that, namely, are 1:1 with DB rows) stale object problems are a reality no matter what, and having the ID be put into a pure data object generates the same issues. But these are things that are not very interesting to discuss outside of specific contexts.
I am a bit of a functional programming nerd, but I've just found that for Python stuff in particular, swimming upstream is its own bug generator relative to writing concise stuff in a very imperative fashion. Using the fat models directly is a part of that calculus for me, but YMMV and every team has different strengths.