Thanks @daviddavis - while it has indeed been discussed before, it’s still a good idea to revisit things like this from time to time. Communities change, policies change, feelings change.
A year ago, I would have downvoted that discussion. The Contributor Covenant was not as well worded then as it is now, and had things that concerned me. Now, I think it’s in good shape, and I’d personally be happy to accept it, should it come to some kind of vote. I’d prefer we reach a consensus though 
However, I would disagree with this:
To counter this, I’ll point out that @Lachlan_Musicman links to the Djano CoC, and having read it, I’d say it’s not that different to our existing Community Guidelines. Sure, it’s a touch longer, but we explicitly call out many of the same things about behaviour in various parts of our ecosystem. To date, we’ve never had a complaint made against those guidelines, and I’m immensely thankful that we have such a great community.
To those who say “but we’re nice anyway”, I’d also point out that we write tests even though we think we’re good coders, we perform security audits even though we don’t think we’re under attack - surely we could have no objection to clarifying the project’s intentions if we already abide by those intentions anyway?
On the basis that our existing Community Guidelines provide much of the function of a CoC, and expect/promote behaviours covered by a CoC, I’d suggest that we focus on improving the wording of that doc, and perhaps rename it & position it more clearly (and obviously link to it from repos, etc).
To close, I think this quote from the ever-excellent Sarah Jamie Lewis is pretty spot on:
Becoming the very thing you don’t wish to become over a document whose content you already follow, would not be a sensible thing to do. We’re better than that.