I am someone for whom all par 5s are genuine 3-shot holes, but I can think of many that I should not miss if they were ploughed up tomorrow, the 4th and 6th at Royal Troon, for instance, which are just long slogs for me. I can think of some par 5s under 500 yards which are real fun for me (the 12th and 14th at Conwy, for instance) but are child's play to big hitters. The 10th at Alwoodley (possibly the prototype for the 13th at Augusta), 9th at Royal County Down, 11th at Fulford, 15th at Hunstanton, 8th at Royal Ashdown, 8th at Formby, 6th at Southerndown, 6th at Royal Lytham, 10th at Sunningdale, 4th at Wentworth West and 8th at Royal West Norfolk are other examples of short par 5s that I love to play but are probably too short for 300+-yard drivers. I should miss each of those holes were they to be abolished.
I have no idea when par 72 became 'standard' unless The Old Course set the standard, as it were. It, of course, only has two par 5s, but par is 72 because it also only has two short holes. It allows the overall length to be something like 7,200 yards for this year's Open, despite having such short two-shotters as the 1st, 7th, 9th, 10th, 12th and 18th. I am told that even as late as the 1950s St Andrews (Muirfield, too) had no Standard Scratch Score. How they monitored handicaps I do not know. Many courses did not have par but had bogey scores and Woodhall Spa, Delamere Forest and the Addington still do. Par for The Hotchkin Course is 73, sss 75, bogey 78; Delamere is par 69, sss 70 and bogey 72. On both these courses some of their longest par 4s are going to be three-shot holes on most occasions to me and others of my ilk. So, if you look back to Horace Hutchinson you find that Harlech had a bogey score of 80 (it is now par 69) and Eltham (now Royal Blackheath) also had a bogey of 80 despite an overall length of only 5016 yards. Writing of Royal Liverpool, Hutchinson records that the medal play record is 76 (John Ball), '....but in 1890 in a private match, the same gentleman recorded 74, this being the par of the round.' I was unaware that par was a recognised term in 1897. A glance at Davies' Dictionary of Golfing Terms reveals that Golf Magazine used the term in June 1891. James Braid, writing in 1911, states, 'The difference between par and bogey is, of course, that the former represents perfect play and the other stands for good play, with a little margin here and there.'
I like a little margin here and there.