How unique is PHP's __autoload()?

PHP's __autoload() (documentation) is pretty interesting to me. Here's how it works:

• You try to use a class, like new Toast_Mitten()(footnote1)
• The class hasn't been loaded into memory. PHP pulls back its fist to sock you with an error.
• It pauses. "Wait," it says. "There's an __autoload() function defined." It runs it.
• In that function, you have somehow mapped the string Toast_Mitten to classes/toast_mitten.php and told it to require that file. It does.
• Now the class is in memory and your program keeps running.

Memory benefit: you only load the classes you need. Terseness benefit: you can stop including so many files everywhere and just include your autoloader.

Things get particularly interesting if

1) Your __autoload() has an automatic way of determining the file path and name from the class name. For instance, maybe all your classes are in classes/ and Toast_Mitten will be in classes/toast_mitten.php. Or maybe you name classes like Animal_Mammal_Weasel, which will be in classes/animal/mammal/animal_mammal_weasel.php.

2) You use a factory method to get instances of your class.

$Mitten = Mitten::factory('toast');

The Mitten::factory method can say to itself, "let's see, do I have a subclass called Toast_Mitten()? If so, I'll return that; if not, I'll just return a generic instance of myself - a standard mitten. Oh, look! __autoload() tells me there is a special class for toast. OK, here's an instance!"

Therefore, you can start out using a generic mitten throughout your code, and when the day comes that you need special behavior for toast, you just create that class and bam! - your code is using it.

My question is twofold:

• (Fact) Do other languages have similar constructs? I see that Ruby has an autoload, but it seems that you have to specify in a given script which classes you expect to use it on.
• (Opinion) Is this too magical? If your favorite language doesn't do this, do you think, "hey nifty, we should have that" or "man I'm glad Language X isn't that sloppy?"

1 My apologies to non-native English speakers. This is a small joke. There is no such thing as a "toast mitten," as far as I know. If there were, it would be a mitten for picking up hot toast. Perhaps you have toast mittens in your own country?