Is it good practice to NULL a pointer after deleting it?

I'll start out by saying, use smart pointers and you'll never have to worry about this.

What are the problems with the following code?

Foo * p = new Foo;
// (use p)
delete p;
p = NULL;

This was sparked by an answer and comments to another question. One comment from Neil Butterworth generated a few upvotes:

Setting pointers to NULL following delete is not universal good practice in C++. There are times when it is a good thing to do, and times when it is pointless and can hide errors.

There are plenty of circumstances where it wouldn't help. But in my experience, it can't hurt. Somebody enlighten me.