That's a good question, Brent. Some here will argue that no tree belongs in the fairway, no matter what, but I can't go along with that. I've seen some examples where it worked well, and some where it worked badly. And once, on the same hole...
One local course had a 510 yard par 5 11th hole with a "specimen tree" pretty much in the center of the fairway about 90 yards from the green. This thing was huge, close to 100 feet tall. Wasn't terribly wide, so there was room to go around, and the branches didn't start up until around 40 feet or so IIRC, so it didn't affect the high handicappers too badly. But damn it sure made things interesting going for the green in two. Due to a bunker left at 260 off the tee and a cluster of pine trees off the right across the bunker, your line was pretty well defined. You hit it straight and dealt with the tree, or hit a draw around it (going into the prevailing wind carrying it wasn't an option then, at least for me, and still isn't a gimme today)
I probably ended up with about two dozen tries at that green over the years, usually hitting a 1 or 2 iron at it. You gotta really be confident of your ability to REALLY flush it if you want to take a 1 iron over a tree that tall (and use balata balls, because Pro V1s and V1xs don't spin enough off the long irons to hit it that high) Of course, more often than not I wasn't able to go for that thing, either because there was too much wind into me, I didn't hit a good drive, or was out of range of my irons (don't carry fairway woods) so I'd layup, and that tree created a lot of strategy and interest in where you wanted to lay up. And you had to play various knockdowns and half shots if you put it in a less than desireable location, or worse, hit the tree with your second. It absolutely dominated and defined that hole.
Then back in 1997 we had a big derecho (particularly violent type of thunderstorm that packs extremely high winds) run through town and right through that course. Surrounded by flat land on all sides, it was a sitting duck, and the wind gauge at the course registered 123 mph before it blew away! Needless to say, lots of trees were lost, including that one.
So they did the dumbest possible thing they could do. They planted a NEW TREE right there. About 20 feet tall at the time, now maybe 30-40 feet tall. So there's no worry about hitting over it at all, so it no longer affects anyone going for it in two, but totally screws the high handicappers since its got branches and leaves all the way to the bottom so there's no way to play below it. Its either over it or around it. There was no way to recreate that hazard, they shouldn't have tried. Now it just looks stupid, and I'm sure people always wonder why in the hell they deliberately planted a tree in the dead center of the fairway!