Oh, absolutely. I would never argue to the contrary. But aether didn't actually appear to exist. It was merely presumed to be necessary for the propagation of light. And please don't get me wrong, here: I believe that at the time, it was a perfectly valid assumption to make, and a perfectly valid theory to test.
The idea that there was some sort of medium through which light went was based on observations. Newton originally thought that light was composed of particles, but it was found that light also behaved like waves, so something had to be put there for the waves to flow through. It still is a valid theory, and someone should actually ttest it.
No, there's not. (Are you sure you're not still talking about aether here?) But there is considerable elegance in running an existing theory through all its conditions and having something utterly surprising fall out of the math -- like black holes, or new particles -- only to be confirmed later by observation. That's the elegance I'm talking about. Aether theory is rather the opposite of that, though we certainly couldn't have known that at the time. Live and learn.
I was thinking of some of the more mathmatical models that come up with "dimensions" that are curld in on themelves. I believe that some versions of string theory have 11 dimensions. There are other such things that probably are simply accidental results of math to which Ocam's Razor was not put.