There is no realistic applied use of Pi that has more than just 5 significant figures or so (3.14159 - rarely is more than this necessary for ANY application). As far as realistic applications go, anything beyond this is pretty meaningless. As A.T. points out, it's not a length, but a ratio. Pi continues to be calculated for the purposes of applied mathematics. I'm not a mathematician, but I do believe that fundamental applications and methods in math were developed through the process of coming up with all sorts of different algorithms to calculate Pi. We do it because we can and because it is fun, and we learn more about mathematics in the process. Not for any realistic physically applicable reason.
Just for reference, a calculation of a circle's area using Pi to 5 digits gives a result that is only off by 0.0000844664% from the same calculation using Pi to 12 digits (adding more digits to Pi is not going to move that '8' any closer to that decimal point). The only field where this would equate to a significant distance would be astronomy. When was the last time someone told you that the nearest star to Earth was 4.3266854126885933575 light years away (I made up every digit after 4.3!)? They don't! That's not for your sake. It's just the nature of astro physics. It's a science of estimations, so there is never a need for Pi to be accurate to more than just a few digits - even on the grandest scale.