The issue with wildcard SSL certs has always been one of browser support. And, it turns out, I was somewhat misinformed. It appears that all the latest versions of all the major browsers support wilcard certs, with one caveat.
Internet Explorer 6 only recognized one level of naming for the wildcard. That is, *.example.com will match www.example.com, but will not match www.monkeys.example.com
And, of course, if you're not making the certs yourself, wildcard certs are considerably more expensive than regular ones.
Sorry for the misinformation.