C++ – What’s the rationale for null terminated strings

As much as I love C and C++, I can't help but scratch my head at the choice of null terminated strings:

• Length prefixed (i.e. Pascal) strings existed before C
• Length prefixed strings make several algorithms faster by allowing constant time length lookup.
• Length prefixed strings make it more difficult to cause buffer overrun errors.
• Even on a 32 bit machine, if you allow the string to be the size of available memory, a length prefixed string is only three bytes wider than a null terminated string. On 16 bit machines this is a single byte. On 64 bit machines, 4GB is a reasonable string length limit, but even if you want to expand it to the size of the machine word, 64 bit machines usually have ample memory making the extra seven bytes sort of a null argument. I know the original C standard was written for insanely poor machines (in terms of memory), but the efficiency argument doesn't sell me here.
• Pretty much every other language (i.e. Perl, Pascal, Python, Java, C#, etc) use length prefixed strings. These languages usually beat C in string manipulation benchmarks because they are more efficient with strings.
• C++ rectified this a bit with the std::basic_string template, but plain character arrays expecting null terminated strings are still pervasive. This is also imperfect because it requires heap allocation.
• Null terminated strings have to reserve a character (namely, null), which cannot exist in the string, while length prefixed strings can contain embedded nulls.

Several of these things have come to light more recently than C, so it would make sense for C to not have known of them. However, several were plain well before C came to be. Why would null terminated strings have been chosen instead of the obviously superior length prefixing?

EDIT: Since some asked for facts (and didn't like the ones I already provided) on my efficiency point above, they stem from a few things:

• Concat using null terminated strings requires O(n + m) time complexity. Length prefixing often require only O(m).
• Length using null terminated strings requires O(n) time complexity. Length prefixing is O(1).
• Length and concat are by far the most common string operations. There are several cases where null terminated strings can be more efficient, but these occur much less often.

From answers below, these are some cases where null terminated strings are more efficient:

• When you need to cut off the start of a string and need to pass it to some method. You can't really do this in constant time with length prefixing even if you are allowed to destroy the original string, because the length prefix probably needs to follow alignment rules.
• In some cases where you're just looping through the string character by character you might be able to save a CPU register. Note that this works only in the case that you haven't dynamically allocated the string (Because then you'd have to free it, necessitating using that CPU register you saved to hold the pointer you originally got from malloc and friends).

None of the above are nearly as common as length and concat.

There's one more asserted in the answers below:

• You need to cut off the end of the string

but this one is incorrect — it's the same amount of time for null terminated and length prefixed strings. (Null terminated strings just stick a null where you want the new end to be, length prefixers just subtract from the prefix.)