I want to motivate the quadratic reciprocity theorem, which at first glance does not look too important to justify it being one of Gauss' favorites. So far I can think of two uses that are basic enough to be shown immediately when presenting the theorem:
1) With the QRT, it is immediate to give a simple, efficient algorithm (that can be done even by hand) for computing Legendre symbols.
2) In Euler's proof of Fermat's claim on the conditions in which a prime $p$ is of the form $x^2+ny^2$ (for certain small values of $n$) the proof is reduced to finding the conditions under which $p$ divides $x^2+ny^2$ for some $x,y$, hence to the question under which conditions is $-n$ a quadratic residue modulo $p$, which leads immediately to the QTR (for example, for $n=3$, where we get that $p\equiv_3 1$). I really like this example since it begins with an "historic" problem and proceeds to "discover" the QTR through special cases (which is what Euler did in practice - see Cox's book on "Primes of the form $x^2+ny^2$").
However, I am sure there are many more examples (and I'm especially curious as to how Gauss reached the theorem himself). I'd love to hear about them and receive references for further reading.
This is a good question.
My own take on motivating quadratic reciprocity is recorded here (these are lecture notes from an undergraduate course on introductory number theory). If you look there, you will find that most of what I have said is an elaboration of the two points you bring up. I think a crisp way of explaining what QR does for you is in the idea of the "direct" and "inverse" problems attached to the Legendre symbol $(\frac{n}{p})$.
Namely, for the direct problem we fix $p$ and ask which integers $n$ are squares modulo $p$. This is clearly a finite problem. On the other hand there is the inverse problem: we fix an integer $n$ and ask for which primes $p$ we have that $n$ is a square modulo $p$. This is, a priori, an infinite problem. However, it is one of great relevance to classical number theory: e.g. all of the many proofs I have seen of Fermat's Two Squares theorem pass through the fact that $-1$ is a square modulo an odd prime $p$ iff $p \equiv 1 \pmod 4$. More generally, if you look at the Diophantine equation $x^2 - n y^2 = p$, for $n$ a nonzero integer and $p$ a prime with $\operatorname{gcd}(p,n) = 1$, then reducing modulo $p$ gives the necessary condition $(\frac{n}{p}) = 1$. Quadratic reciprocity to the rescue!
Secondly, as you also say, quadratic reciprocity gives an efficient algorithm for answering whether a particular $n$ is a square modulo $p$, much faster than computing all $\frac{p-1}{2}$ squares modulo $p$.
In my experience, this is more than enough for students to appreciate the usefulness of Gauss' aureum theorema.