What does this number equal if it goes on forever? $$\frac{\frac{\frac{\frac{\frac{1}{2}}{\frac{3}{4}}}{\frac{\frac56}{\frac78}}}{\frac{\frac{\frac{9}{10}}{\frac{11}{12}}}{\frac{\frac{13}{14}}{\frac{15}{16}}}}}{\frac{\frac{\frac{\frac{17}{18}}{\frac{19}{20}}}{\frac{\frac{21}{22}}{\frac{23}{24}}}}{\frac{\frac{\frac{25}{26}}{\frac{27}{28}}}{\frac{\frac{29}{30}}{\frac{31}{32}}}}}$$ $$.$$$$.$$$$.$$
Treat the fraction in blocks, one divides what is under it, then that pair is divided by the next pair, those four are divided by the next four. ETC
Edit. I'm reformatting as I can't read the original... aged eyes I guess ;-( but in deference to almagest's comment I am leaving the original too. $$\frac{\frac{\frac{1}{2}\Big/\frac{3}{4}}{\frac{5}{6}\Big/\frac{7}{8}}\Bigg/ \frac{\frac{9}{10}\Big/\frac{11}{12}}{\frac{13}{14}\Big/\frac{15}{16}}} {\frac{\frac{17}{18}\Big/\frac{19}{20}}{\frac{21}{22}\Big/\frac{23}{24}}\Bigg/ \frac{\frac{25}{26}\Big/\frac{27}{28}}{\frac{29}{30}\Big/\frac{31}{32}}} \cdots$$
The product converges. Here's a proof:
Take 4 consecutive terms, beginning with $4k+1$ for some integer $k$. The binary expansion of these 4 terms will be some sequence of bits, followed by 00,01,10,11. The terms will contribute $\left(\frac{(4k+1)(4k+4)}{(4k+2)(4k+3)}\right)^{\pm1}$ to the product, the exponent depending on the number of bits that are 1 in the preceding sequence. This is asymptotically $(1\mp\frac{1}{8k^2})$, so the product converges by comparison.
In fact, we can do slightly better, by evaluating $$ \prod_{k=0}^\infty \frac{(4k+1)(4k+4)}{(4k+2)(4k+3)}=\frac{\sqrt{\pi } \Gamma \left(\frac{3}{4}\right)}{\Gamma \left(\frac{1}{4}\right)}\approx 0.599 $$ to give us a bound on the value, which is between this number and its reciprocal, around 1.669.
This method could be improved to include 8 consecutive terms, or 16, and so on, to improve the bound. For example, doing the product for the first five layers and then estimating the remainder by a method of grouping terms in 8s gives a bound of between 0.703676 and 0.708679.
Perhaps this can even be done systematically to get a proof of the whole thing.
To add to the evidence in @David's claim that the series converges to $\frac1{\sqrt2}$, here's a log plot of the error against the number of layers, up to 20 layers. I plot the difference between the proposed limit and the partial products.
Looks like exponential convergence to me!
As a physicist, this constitutes a proof. $\quad\square$