Function drupal_convert_to_utf8 cuts string at first illegal character causing dataloss

In file "includes/unicode.inc" there is a function "drupal_convert_to_utf8" which has the following code:

  if (function_exists('iconv')) {
    $out = @iconv($encoding, 'utf-8', $data);
  }

According to http://uk.php.net/function.iconv this returns the converted string, or FALSE on failure. The string is cut at the first illegal character.

I think it should be either changed to:

  if (function_exists('iconv')) {
    $out = @iconv($encoding, 'utf-8//TRANSLIT', $data);
  }

So that "when a character can't be represented in the target charset, it can be approximated through one or several similarly looking characters" instead of just being cut.

or

  if (function_exists('iconv')) {
    $out = @iconv($encoding, 'utf-8//IGNORE', $data);
  }

to ignore that single illegal character, but continue to convert whatever is past that point.

Either would do for me, but I guess it is better to ask those in the know which would be better.

(I have no idea what component to file this against. I have chosen "Base System")