This idea has come up before (by myself for one). Par 3 courses don't seem to get much interest, however.
I remember as a kid, learning the game in real life on a par 3 course - hitting no more than 5-iron off the tee and learning to pitch and putt around the greens. You could play 9 holes in an hour and it cost only a few dollars to play. The course was located in the city limits on a small piece of land bordered by highways. I think the golfing world could use more par 3 courses as an alternative to full length courses that take forever (5-6 hours) to play, cost a bundle per round, are expensive to maintain and have a high environmental footprint.
So, perhaps WGT could consider a par 3 course some day as an "enlightened" alternative to par 70 or 72 courses. Quick play, good for short game practice and a great format for skins (lots of birdies!). Only problem perhaps is it would skew the averages...
C