The ancient discipline of construction by straightedge and compass is both fascinating and entertaining. But what is its significance in a mathematical sense? It is still taught in high school geometry classes even today.
What I'm getting at is this: Are the rules of construction just arbitrarily imposed restrictions, like a form of poetry, or is there a meaningful reason for prohibiting, say, the use of a protractor?
I personally think straightedge and compass is one of the most important tools i acquired during high school, regarding mathematics.
Other then it being, as you said, a fascinating and entertaining subject- It was the first time before college I ever had to work under severe restriction- and got unbelievable results. Later on, when I discovered Galois and Field theory the whole thing became even cooler.
What I'm getting at, is that I think subjects like Construtions are extremely important for math education. A few days ago someone posted Lockharts Lement- It mentions the fact that math became a subject of industry- kids learn math as a technical and terrifying subject. Telling them to use protractors and calculators and other stuff that make "short cuts" to solutions of problems makes math into paper-work.
Putting on restrictions, and teaching how to come up with beautiful stuff under them- makes it into a game. I remember when I was a kid I wasn't very much interested in paperworks. But games, I liked games. And that kind of things is what got me to enroll in a mathematics degree. At least that's my opinion on the matter :)