I've really enjoyed this thread and everyone's contributions to it whether they are "pontificating" or not. Mathematics seems to excite a lot of passion either in favor or opposed to it, and I hope this discussion will keep on going for a while.
To address a point raised by simon17 about why true arithmetic and algebra lie "on the other side of calculus", that is because their study requires the use of analysis. Analysis courses always are offered after the calculus classes have been completed because then you understand enough to grasp how and why the Fundamental Theorems of Algebra, Arithmetic and Calculus are true.
As for the teaching of mathematics and how poorly it's being done, don't even get me started. I will say that the practical examples some have used, such as how much paint is needed to cover a room or how much wallpaper is needed for a wall or other partition are rarely used in classroom instruction. When I taught, I would regularly pose problems like that for my students because I wanted them to understand that mathematics wasn't simply concerned with the abstract, that it had ordinary, everyday uses as well. Kids really appreciated that.
But I also taught kids who were light-years ahead of their classmates. I remember one boy who asked me what was the definition of a real number. He was only 12 years old and was already thinking on a highly advanced level. Then there was another boy who wanted to know what kind of mathematics was used to create the digital animation features in movies like Toy Story and Titanic. Or the young woman who wrote a brilliant essay on the contributions to the field of statistical analysis that had been done by...Florence Nightingale!
Teaching mathematics is a real challenge when you have a class of more than thirty students with widely varying abilities. The challenge is compounded nowadays with the emphasis on standardized tests that are considered a true measure of a student's mathematical understanding. Having also worked as a grader for these same tests I can tell you they are anything but that. However, they are the newest "sacred cow" in math education and their use cannot be questioned right now.
I discovered the Khan Academy website some time ago and recommended it earlier in this thread. Sadly, the approach used there is something that professional educators oppose. I am glad this resource is available, however, as well as the ...Dummies and ...Demystified books for anyone, student or not, who wants to learn more about deep mathematics.
Quendi