This rehashes issues brought up in other threads, but I'm posting this to make the issue clear and concise.
It would be very nice if WP template tags on Pages would be parsed. This would allow people to make pages of links based on the links in their WP links manager and to create archive pages, as well as various other pages.
There is a plugin that will let PHP be executed in posts, but I think this is overkill. Parsing only WP template tags only on posts would boost the functionality and usefulness of the "Pages" feature greatly.