Would current loop not offer the same adavntages to say a switch circuit?

It is fairly common in industrial control to use RS422/485 driver/receivers for other than data communication - one popular application is with optical encoders.

Kai,
Back to our previous discussion - I understand what you are saying, in the instance of an ABS sensor on the wheel - there is no issue with grounding both ends as high currents aren't passed through your suspension structure, however in the instance of the throttle pot you have an engine block with a starter motor that will pull >70A on starting. The engine is connected to the chassis by a large copper strap. If you connect the shield of the throttle pot to the engine block at one end and the chassis at the ECU end, you're going to get currents flowing when the engine starts. Mind you, the pot signals are normally well protected against RF.

The air flow sensor in my car effectively floats as it is mounted on plastic piping. The shielding for the cable connects to the metal frame of the sensor, how does this effectively connect the shield at both ends to the chassis (or gnd?). In this instance, the shield is an antenna.