May you have the link to 'DO'-discussion to take a look on it? I was trying to google for something like that, but word 'DO' is too generic to bring useful results :(
In my particular case I'm more interested in an easy way to create complex SELECTs that require usage of variables in the one-time through-away scripts (some-time during experiments for implementation of functions, to see immediate results of the intermediate code). The easiest way would be MsSQL-like when declaring a variable outside of SP actually makes it visible globally in current session. In such case I do not need 'DO' at all and this is simple. Probably PostgreSQL has another way to make that thing simple.