The two key qualitative facts of the Banach-Tarski paradox are:
- The motions are simple -- it uses Euclidean translations and rotations (volume-preserving operations) on finitely many objects
- The sets involved are so "complicated" that the notion of volume doesn't have any meaning for them (they're called non-measurable sets)
(aside: there are lots of "measures" -- notions like "how many", "length", "area", and "volume" are all different sorts of measures)
The first point is rather important -- without it (or something similar), there's no reason to believe that such an argument would preserve measure. As you point out, it's a rather simple matter to take the points of a line and rearrange them into a square -- but the way you do it gives us no reason to think that it should preserve measure
*
Previous pseudo-paradoxes that properly use measure-preserving transformations had other factors against them that make it easy for people to mentally brush off the use of non-measurable sets and simply ascribe any poor behavior of measure to the ways in which the argument is complicated.
The Banach-Tarski (pseudo-)paradox is significant because there is pretty much no room to rationalize things away -- it really does a good job of
forcing people to acknowledge non-measurable sets and just how badly the idea of measure behaves in their presence.
(Of course, this acknowledgment leads some people to adopt versions of set theory in which non-measurable sets don't exist)
*: well, we have reason to believe the counting measure is preserved, and it is. ([itex]+\infty[/itex] for both a line and for a square)