I attempt to maintain a consistant paradigm. If I need to use the functionality from another module, I instantiate an object and use the defined API. If I need a series of objects, I instantiate them in my constructor and store them in my constructor. I guess only exporting new which is kind of redundant anyway, is bascially stating "Here is the way I would like you to come in, see that API over there, that's for you". If people end up editing the source to export more, or set up inheritance, more power to them.
Granted it's not the only way to do it by any means, and I give up some functionality, but I prefer the consistancy in all my code produced for this company. In my current position, each module produced is pretty close to the bottom of the food chain. I think if I were providing slightly more generic modules the case may be different, but in the present situation its not necessarily the best solution.